KSi Daily Report: Thursday, 13 March 2014

Both Kina Securities stock indices were weakened despite more stocks gained on POMSoX trading session today. The Kina Securities main index, or KSi, closed 10.95 points, or 0.30% lower at 3,606.25 points. Likewise, the Kina Securities Home Index, or KSHi, fell 172.45 points, or 4.77% to 7,866.09.

There were three gains compared to three losses on today’s trade.

Oil and gas company Oil Search Ltd (OSH) led the gainers, trading a toea higher at K17.58. Alongside a leading financial institution Credit Corporation Ltd (CCP) closed at K2.60, up 5 toea and Bank South Pacific (BSP) at K7.75, registering at 5 toea higher.

Stocks traded on losses included an agricultural stock company, New Britain Palm Oil (NBO) that shed 50 toea at K14.50. The stock dragged down both the indices due to its weighted component. Meanwhile, City Pharmacy Ltd (CPL) recorded trades at K1.95, down a toea at the close.

Thursday’s trading registered a volume of 5,456 shares at a share worth of K30,834.08.

In the overseas market, U.S stocks were little changed overnight with the Dow Jones Industrial Average fell 11.17 points, 0.07% thus ending at 16,340.08 points at the close as markets close-watched situation in Ukraine . Asian stocks climbed, as emerging market currencies advanced before Chinese factory data. Japan’s Nikkei share average declined 14 points, or 0.10% at 14,816 today. Australia’s sharemarket extended gains after the employment report that held the jobless rate at 6 percent. The benchmark S&P/ASX 200 added 28.41 points or 0.53%, to 5,412.60 points led by resources sector.

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