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KSi Daily Report: Wednesday, 09 September 2015

Both Kina Securities indices closed higher amid a global rally in major bourses today. The main index KSi collected 3.11 points or 0.09% to 3,57.79points and the home index or KSHi advanced 98.50 points or above 1.0% at 9,696.06 points.

One stock gained verses none that fell in POMSoX trading.

Bank South Pacific Ltd (BSP) was the sole gainer for the session at K7.40, up 10 toea.

Meanwhile, Credit Corporation Ltd (CCP) was traded unchanged at K2.50.

Wednesday’s trading recorded a total of 21,754 shares valued at K79,610.20.

U.S. stocks ended sharply higher in overnight trading, with the main indexes posting their second-largest daily gains of the year. Stocks rebounded after the Labor Day holiday and market participants were cheered by rising expectations for additional economic stimulus measures by Chinese authorities. The Dow Jones Industrial Average surged 390.30 points, or 2.42%, to 16,492.68 points. Likewise, Japan’s Nikkei share average soared a massive 1,115.57 points or 6.40% to 18,542.65 points by close of market today after Prime Minister Abe’s comments sparked hopes of more policy steps to support growth. The Australian shares also advanced, with the benchmark S&P/ASX200 index closing up 97.20 points, or 1.90% at 5,212.40 points after major banks staged a powerful rally following Wall Street leads overnight.

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