KSi Daily Report: Friday, 03 June 2016

Friday’s POMSOX trading session was quiet amid thin trading as both Kina Securities stock indices remained unchanged. The Kina Securities main index KSi was steady at 4,465.89 points and likewise the Kina Securities Home Index or KSHi was maintained at 9,345.88 points.

Bank South Pacific Ltd (BSP), PNG’s largest banking and financial stock in PNG in terms of market capitalization has closed flat at K7.75. The stock traded ex-dividend today with a trading a volume of 307 shares valued at K2,379.25.

U.S stocks closed modestly higher, erasing early session deficits as oil prices reversed course to settle higher after a weekly report showed decline in U.S crude inventories. The Dow Jones Industrial Average rose 48.89 points or 0.27% to 17,838.56 points. Japanese stocks rose in thin trade, supported by gains on Wall Street as the Nikkei advanced 79.68 points or 0.48% to 16,642.23 points. The Australian share market clawed back some of its recent losses to end its worst week in two months on a positive note. The benchmark index S&P/ASX 200 was up 40 points, or 0.76% at 5,318.90 points.

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