KSi Daily Report: Tuesday, 04 November 2014

Kina Securities stock indices closed on moderate gains as stocks traded today on POMSoX edged flat to higher. The main index KSi extended gains, adding 13.27 points or 0.35% to 3,804.62 while the Home index KSHi was unchanged at 9,877.16 points.

One out of four stocks gained compared to none that lost.

PNG’s leading Oil and Gas company Oil Search Ltd (OSH) was the sole winner for the day as the stock collected 4 toea to close at K19.25.

Other stocks included financial stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) ended at K7.12 and K2.60 even respectively. Meanwhile Newcrest Mining Ltd (NCM) closed flat at K24.00.

Today’s POMSoX registered 6,298 share trading units valued K70,880.91.

U.S stocks ended on choppy session slightly lower as the Dow Jones Average retreated from fresh intraday records shortly after a sell-off in the energy and materials sector in overnight session. The DJIA edged lower at 24.28 points or 0.14% to 17,366.24 points. However, Japanese stocks soared to a 7 year high as weak yen boosted exporters. The Nikkei share average surged 545 points or 3.32% at 16,959 points, extending gains after the easing package announcement. In Australia, shares ended quietly, but closing marginally higher as RBA held interest rates steady. The benchmark S&P/ASX 200 index collected 13.01 points or 0.24% at 5,519.90 points today.

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