KSi Daily Report: Thursday, 19 June 2014

On Thursday, POMSOX’s trading session closed with the Kina Securities Indices moving in the opposite direction. The Main Index, KSi edged up 3.20 points or 0.04% to 3,688.27 points. Meanwhile, the Home Index or KSHi shed 5.33 points or 0.07% to 7,911.61 points.

One out of seven stocks that traded gained against another stock that lost.

PNG’s leading oil and gas company Oil Search Ltd (OSH) was the winning stock, adding 10 toea to close at K19.10.

Stocks that were unmoved included exploration company Kina Petroleum Ltd (KPL) at K1.00 followed closely by financial stock Credit Corporation Ltd (CCP) at K2.70 even.

The drop came from leading financial institution Bank South Pacific Ltd (BSP) at K7.39, shedding 1 toea.

Total shares recorded were 703,566 units at a share value of K5,186,616.98.

In markets abroad, American stocks reacted positively to the Federal Reserve’s monetary policy announcement, with the benchmark S&P 500 index hitting a new record. The Dow Jones Industrial Average climbed 98.13 points or 0.58% to 16,906.62 points. Asian markets followed positive lead from the U.S rebounds. Japan’s Nikkei share average surged 234 points or 1.55% to 15,350 points. Australian share market was up on strong leads from Wall Street’s policy of ultra-low interest rates. The S&P/ASX 200 benchmark index was up 85.48 points or 1.59% to 5,468.20 points.

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