KSi daily Report: Thursday, 08 February 2018

DOMESTIC MARKET

Thursday’s POMSoX trading session was rather quiet as both stock indices maintained closing positions from the previous day. The Kina Securities Main index KSi was steady at 5,691.53 points followed by the Kina Securities Home Index (KSHi) unchanged at 10,919.99 points.

The market was dormant today.

 

GLOBAL MARKET

AUSTRALIA:  The Australian share market has turned around a weak start to the day to close higher, as bargain hunters bought stocks beaten up in Monday and Tuesday’s plunge. The benchmark S&P/ASX200 index was up 0.2% at 5,890.7 points.

NEW YORK : US stocks have swung up and down in choppy trading as technology and energy stocks fall, though with milder momentum than earlier in the week. The Dow Jones Industrial Average was up 0.77 % at 25,105.75, the S&P 500 was up 0.08% to 2,697.25 while the Nasdaq Composite was down 0.21% to 7,100.72.

LONDON: European shares have broken a seven-day losing streak as investors take heart from a recovery on Wall Street and reduced volatility, returning their focus to some upbeat company earnings. All sectors in Europe were trading in positive territory, helping the pan-European STOXX 600 index rise 2.1 %at the close. Germany’s DAX closed up 1.60% at 12,590.43. The FTSE 100 rose 1.93% to 7,279.42, in line with a bounce across other European bourses.

TOKYO: Asia’s equity gains fizzled on Wednesday, although Japan’s share market held on to a modest rise. Japan stock index was weaker by 0.15 per cent while Japan’s Nikkei index closed up 0.16 per cent at 21,645.37.The Hang Seng index fell 0.89% to 30,323.20. The Hang Seng China Enterprises index fell 2% to 12,433.29. China’s main Shanghai Composite index closed down 1.82% at 3,309.26 points while its blue-chip CSI300 index ended down 2.37% at 4,050.50.

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KSi daily Report: Wednesday, 31 January 2018

POMSOX had another quiet trading day. Both market indices were flat at the close. The main index, the KSi was unchanged from previous close at  5,798.28 points, while the Kina Securities Home Index, the KSHi remained steady at 10,919.99 points.

Trades were registered in the Financial and Petroleum sectors. Credit Corporation Ltd (CCP) was active and closed unchanged at K1.62 while several trades in Oil Search Ltd (OSH) crossed at K21.00, unchanged from the previous day.  Total monetary value of trades was K162,775.32 on a  volume of 16,690 units.

US stocks fell for a second straight day on Tuesday, with the Dow registering its biggest two-day drop pressured by healthcare stocks and rising bond yields as investors moved out of stocks and into bonds. Healthcare stocks pulled the major indexes lower on news that Amazon.com Inc, Berkshire Hathaway Inc and JPMorgan Chase & Co will jointly form a healthcare company to help control costs for their US employees. Apple Inc declined for a second day, falling 0.6 per cent on news that the US Department of Justice and the Securities and Exchange Commission are investigating the company’s disclosure that it slowed older iPhones with flagging batteries. The effect on the Dow Jones Industrial Average saw a fall of 362.59 points or -1.37% to 26,076.89 points. Asian stocks were mixed  on Wednesday after Wall Street recorded its biggest decline since August seeing Nikkei 225 losing at 0.8% to 23,098.29 points.  Meanwhile, Australian shares have closed the market high as US President Donald Trump’ delivered a market-assuring State of the Union address. The benchmark S&P/ASX200 index was up 14.9 points or 0.25% at 6,037.7 points.

KSi daily Report: Monday, 29 January 2018

POMSOX’s trading session was quiet again today. The main index KSi, remained at 5,690.70 while the Home index, the KSHi closed the day unmoved at 10,919.99 points.

Dual listed bank, Kina Security limited (KSL) was the only stock traded today recording a thin volume of 48,800 units at a value of K117,120.00. The share price remained unchanged.

In news overseas, the latest round of strong earnings reports, including technology stocks, ensured the market closed higher on Friday. Intel’s shares surged higher to $US50.08 after results indicated that the chipmaker’s shift to a higher margin data-centre business was working. The earnings enabled investors to shrug off a reading on economic growth that came in below expectations. The Dow Jones Industrial Average rose 223.92 points or 0.85% to 26,616.71.

In Asia, Japan’s Nikkei share average fell -14.72 points or  -0.06% to 23,619.08  triggered by higher tech stocks being dragged down by consumer staples. Meanwhile, the Australian market  closed higher after a strong lead from US stocks and with more investors looking to the share market as a potentially better alternative to property. The benchmark S&P/ASX200 index was up 25.4 points or 0.42% at 6,075.4 as it resumed trading after the long weekend.