KSi Daily Report: Thursday, 30 October 2014

Kina Securities main Index KSi headed lower for the third consecutive session after POMSoX closed on Thursday. The index was almost flat by 0.33 points weaker to 3,761.57. Meanwhile the home index KSHi was unchanged at 9,210.94 points.

There were 18 trades done, in between one stock fell with another that gained.

PNG’s leading oil and gas company Oil Search Ltd (OSH) gained a toea to K19.22. The stock that caused a slight fall on the KSi was attributable to Kina Petroleum Ltd (KPL) which fell 15 toea and closed at 75 toea

Meanwhile a junior cap miner Marengo Mining Ltd (MMC) and bank stock Bank South Pacific Ltd (BSP) ended flat at 7 toea and K7.12 respectively. Credit Corporation Ltd (CCP), despite the support of stock buyback program, remained at K2.60.

Shares registered for today was 119,475 units at Kina value of K64,539.51.

U.S stocks snapped a four-day winning streak on Wednesday ending slightly lower after the Federal Reserve ended its simulative monthly bond-buying program. The Dow Jones Industrial Average shed 31.44 points (-0.18%) to 16,974.31 points. The Nikkei soared on a 3-week high on Fed’s plan leading to a weaker yen as the Share Average climbed 104 points (0.67%) to 15,658 points. The benchmark index S&P/ASX 200 added 28.52 points (0.96%) to 5,476.20 on ASX as Australian stock market closed high with significant gains from sectors while financials lagged.

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