KSi Daily Report: Friday, 22 January 2016

Friday session on POMSoX saw the Kina Securities main Index, the KSi, edged slightly lower, down 0.97 points (-0.03%) at 3,355.45 points. The home index, KSHi, remained at 9,346.32 points.

There was only one stock that fell on today’s session. PNG’s leading oil and gas company Oil Search Ltd (OSH) declined by a toea to close at K14.05 despite rebound in world oil prices.

Bank South Pacific Ltd (BSP) traded even at K7.50, followed by Highlands Pacific Ltd (HIG) at 20toea flat.

Today’ session recorded a total of considerable volume of 110,629 units valued at K130,672.15.

U.S stocks finished higher Thursday, as a sharp rebound by oil futures helped the main indexes rebound from recent rout since new year begins . The Dow Jones Industrial Average climbed 115.94 points or 0.74% to 15,882.68 points. The Nikkei share average surged 967.73 points or 6.04% at 16,984.99 points as stocks in Japan soared more than 5 percent helped by a weaker yen and bounce in oil prices. Australian shares strung together extended gains in two consecutive sessions for the first time this year with regional upsurges. The benchmark index S&P/ASX 200 gained 51.95 points or 1.07% to 4,915.95 points.

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