KSi Daily Report: 20 May,2014

POMSOX trading was active Tuesday at the expense of Kina Securities Indices as both ended on losses. The Kina Securities Index, KSi, fell 1.26 points to end at 3,656.87 points. Likewise, the Home Index or the KSHi shed 37.20 points (-0.46%) to close at 8,047.26.

The day’s trading session recorded 19 trades.

PNG’s leading oil and gas company Oil Search Ltd (OSH) was the winning stock, gaining a toea to close at K18.05.

Stocks that ended on the downside included Kina Asset Management Ltd (KAM) and financial stock Credit Corporation Ltd (CCP) at K1.05, off 2toea and K2.60, own 10toea respectively..

The unchanged stocks were led by junior cap miner Marengo Mining Ltd (MMC), which closed most active in terms of trading volume ending at 12 toea, followed by a leading financial institution Bank South Pacific Ltd (BSP) at K7.69.

Total units done were 258,352 at a value worth of K342,072.50.

In markets abroad, U.S stocks gained overnight following a rally in internet and biotech shares. The Dow Jones Industrial Average advanced 20.55 points or 0.12% to end at 16,511.86. Asian stocks slipped on Tuesday despite solid performance by Wall Street. Japan’s Nikkei share average rose 69 points or 0.49% to close at 14,075 points. Australian shares following the slight gains on Wall Street as the benchmark S&P/ASX200 climbed 11.38 points or 0.21% to end at 5,420.40 points today.

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