KSi Daily Report: Monday, 11 July 2016

Monday’s trading was rather quiet as both Kina Securities stock indices remained unchanged. The Kina Securities main index or KSi was steady at 4,628.60 points and likewise the Kina Securities Home Index KSHi was maintained at 9,717.70 points.

PNG’s largest leading oil and gas stock Oil Search Ltd (OSH) was traded unmoved at K17.00 followed by local banking and financial stock Bank South Pacific Ltd (BSP) at K8.15.

The day’s trading session recorded a total volume of 3,951 shares worth K58,299.30.

In overseas news, the U.S stock market remained range bound as the market awaited game changes. The Dow Jones Industrial Average climbed 250.86 points or 1.40% to 18,146.74 points. Japan’s Nikkei share average soared more than 3 percent after U.S stocks rose the country’s ruling coalition won a landslide victory in upper house elections, boosting confidence in the market. The Nikkei jumped 632.69 points or 4.19% to 15,739.67 points. The Australian share market continued its strong run at the end of last week, helped by a strong lead from overseas and a more certain political situation domestically more than 1.5% helped by all-round gains in mining, energy and banking shares . Benchmark index S&P/ASX 200 jumped 91.2 points or 1.74% at 5,321.7 points.

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