KSi Daily Report: Thursday, 21 January 2016

Kina Securities stock indices closed the POMSOX session in negative territory. The main index or KSi was down by 29.17 points or 0.86% at 3,356.42 points and likewise the home index or KSHI fell 120.01 points or 1.27% at 9,346.32 points.

Thursday’s session registered an equal number of losses versus nil gains.

PNG Air, formerly known as Airlines PNG Ltd (CGA) traded the first time in many months, closed at 15toea, down 85toea. City Pharmacy Ltd (CPL) was down by 1toea to end at K1.31. Meanwhile Oil Search Ltd (OSH) dropped 24toea to close at K14.06. On ASX, it ended at $5.64, down 0.03c.

Bank South Pacific Ltd (BSP), the largest banking and financial stock on POMSoX, closed flat at K7.50, supported by the company’s ongoing share buyback scheme. Kina Securities Ltd (KSL) was not traded today.

The day’s trading recorded a substantial volume of 242,940 shares worth K71,222.91.

U.S stocks fell in overnight trading, plunging more than 500 points at one point as oil prices keep falling. At the close, the DJIA Index down 249.28 points or 1.56% to 15,766.74 points. Japan’s Nikkei share average also ended much lower, as the yen strengthened slightly against the dollar. The Nikkei slipped 398.93 points or 2.43% at 16,017.26 points. However, the S&P/ASX 200 Index climbed 22.48 points or 0.46% to 4,864 points, as Australian shares made some gains helped by bargain hunters plough back in despite major sell-offs in the US and UK overnight.

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