KSi Daily Report: Thursday, 01 May 2014

POMSoX began in May on a quiet note with both Kina Securities indices weakening at end of session. The Main Index or KSi declined 1.94 points or 0.05% at 3,654.92 points and similarly the Home Index or KSHi dropped by 42.59 points or 0.52% to 8,081.69.

Bank South Pacific Ltd (BSP) was the only stock traded today as the largest banking and financial stock in PNG completed at K7.70, down 8 toea amid a total of 14,104 shares worth K108,600.80.

In markets abroad, the U.S. stock market ended an overnight volatile session slightly higher with the Dow closing at a record level after rising 45.47 points, or 0.3% to 16,580.84 for the first time this year. Japanese shares rallied today, helped by a record closing high in the Dow amid solid earnings from brokerage firms and some manufacturers. The Nikkei share average surged 181.02 points or 1.3% to 14,485.13. However, the Australian share market ended soft, pulled down by the big banks and iron ore miners. The benchmark S&P/ASX200 index was down 40.3 points or 0.73% to 5,448.80 on Thursday.

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