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KSi Daily Report: Thursday, 27 November 214

Kina Securities stock indices extended gains amid a quiet POMSoX trading session. The main index KSi closed 15.34 points or 0.42% higher to 3,662.46 points. Likewise, the home index KSHi advanced 37.27 points or 0.38% to 9,897.93 points.

One stock gained and another three stocks were traded unchanged.

PNG’ leading oil and gas company Oil Search Ltd was the winner today, as the stock closed 15 toea higher at K17.65.

Stocks traded unmoved for the day were led by financial stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) ending at K7.19 and K2.55 flat respectively. Meanwhile portfolio administration stock Kina Asset Management Ltd (KAML) ended at K1.03 even. The company, in a special EGM held today in Port Moresby, has agreed its largest shareholder to extend its ownership to 25% of the total ordinary shares on issue, including issuing new shares.

Total shares done were 43,695 units at a monetary value of K13,381.70.

In New York, trading on Wall Street was thin with many participants taking off early for the Thanksgiving holiday, which saw The Dow Jones Industrial Average end slightly higher on overnight trading. The DJIA added 12.81 points (+0.01%) to 17,827.75 points. Japanese stocks edged down on Thursday, as exporters were hit by the stronger yen, while many investors stayed on the sidelines before a U.S. holiday. The Nikkei share average fell a further 92.15 points (-0.53%) at 17,291.31. In Australia, the ASX shares closed marginally higher, as selling in energy stocks and miners was offset by gains in banks. The benchmark S&P/ASx200 index inched up 4.7 points (+0.1%) to 5400.90 points.

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