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KSi Daily Report: Monday, 21 July 2014

Kina Securities stock indices were mixed on Monday after POMSoX closed with stocks headed in opposite directions. The Main Index KSi closed a mere 0.15 points higher at 3,765.90 points while the Home Index KSHi declined 12.68 points (-0.15%) to 8,340.98 points.

There was one stock that gained compared to an equal number of loss.

Oil Search Ltd (OSH), PNG’s largest oil and gas producer had gained 1 toea to close at K19.21.

On the down side, a sole-listed pharmaceutical stock, City Pharmacy Ltd (CPL) fell 9 toea to end the session at K1.70.

Bank South Pacific Ltd (BSP) was unchanged, maintaining its steady price at K7.28 supported by the company’s new share buyback plan introduced last week.

The day’s trading session recorded a total volume of 37,525 share with Kina value of K272,274.21.

In overseas trading, the U.S. stock market finished the volatile week with modest gains, helped by a bounce on the main benchmark indices Friday. The Dow Jones Industrial Average added 123.37 points, or 0.73%, to 17,100.18 points as investors focused on earnings reports, brushing aside implications of a Malaysia Airlines jet crash in Ukraine and Israel’s invasion of Gaza, which triggered a sell off for the previous day’s session. Meanwhile, Japanese stock markets were closed today to observe Marine Day. In Australia, the ASX shares market ended slightly higher despite weaker iron ore prices and concern about political tensions after the downing of Malaysia Airlines flight MH17. The S&P/ASX200 index was up 11.40 points, or 0.21% at 5,543.10 points by close of session today.

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