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KSi Report Update: Wednesday, 23 October 2013

Both Kina Securities stock indices retreated on Wednesday, the second consecutive session on POMSOX despite active trading. The main index, or KSi, declined 5.11 points to 3,899.23. Likewise, the Kina Securities Home index or the KSHi also ended lower by 88.71 points (-1.07%) to 8,219.73 points.

Today’s trading registered two gains versus one that lost.

Kina Asset Management (KAM) led the advance closing 6 toea higher at K1.03. The investment Company has recorded a net profit of K7 million or 17.5% investment return, according to its third quarter report ending September. City Pharmacy Ltd (CPL) recovered by 5 Toea ending at K1.90, the highest level in the listing history.

Agricultural stock company, New Britain Palm Oil (NBOL) was the only stock that traded at a loss, as it completed at K15.00, down 58 Toea. The heavily-weighted stock component has singlehandedly weighed down both indices today.

The unchanged traded stocks were led by Credit Corporation (CCP) at K2.60 in terms of trading volume, followed by Oil Search Limited (OSH) at K16.06, and Newcrest Mining (NCM) at K33.00. Bank South Pacific (BSP) registered a few trades at K8.01.

Today POMSoX recorded a substantial volume of 265,699 shares worth K369,264.33.

In overseas, the Dow Jones Industrial Average closed up 75.46 points, 0.49% closing at 15,467.70 points higher, after weaker-than-expected job creation last month reinforced expectations the U. S. Federal Reserve will continue its bond purchase program. However, Asian stocks broadly weakened today on fears of tighter policy in China after D=data show the country’s housing property are gearing up. Japan’s Nikkei slumped 287.20 points (-1.95%) ending at 14,426.00 points. The benchmark S&P/ASX200 in ASX declined 17.05 points or 0.32% at 5,365.10 points following a jump in China’s money market rate.

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