KSi Daily Report: Thursday, 12 May 2016

POMSOX trading session on Thursday was quiet as both Kina Securities Indices remained unmoved. The main index, KSi maintained at 4,307.26 while the Home Index or KSHi also closed steady at 9,052.98 points.

There was only one stock traded unchanged today.

PNG’s leading oil and gas stock, Oil Search Ltd (OSH) was still strong at K17.00 even trading a total of 1,000 units at a market value of K17,000.00.

In US markets, a steady selloff on Wall Street that accelerated at the close in overnight trading erased nearly all of the sizable gains from the previous day’s session, as disappointing earnings from Disney and a slump among retailers led to concern among investors. The Dow dropped 217.23 points, or 1.2%, to 17,711.12 points after a slide in consumer-discretionary stocks, offsetting a 4% jump in oil prices. Japan’s Nikkei rose for a fourth straight day on Thursday after the yen weakened, but gains were capped by dismal earnings from companies such as Toyota Motor Corp. The Nikkei share average gained 63.33 points or 0.4% to 16,646.34 points. The Australian share market has closed lower as Westpac’s ex-dividend trade weighs on the financials. At the close on Thursday, the benchmark S&P/ASX200 index was 13 points, or 0.24% lower at 5,359.30 points

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