KSi Daily Report: Tuesday, 17 February 2015

Both Kina Securities Indices retreated giving up yesterday’s gains as one out of two stocks that traded fell after close of Tuesday’s session. The Main index KSi shed 2.64 points or 0.07% to 3,600.60 points. Likewise, the Kina Securities Home index KSHi sliced 48.28 points or 0.49% to 9,749.81 points.

PNG’s leading oil and gas stock Oil Search Ltd (OSH) was the only other stock that traded today which closed at K17.00 flat.

The downfall came from Bank South Pacific Ltd (BSP) as the stock gave up 9toea, closing lower at K7.36.

The day’s trading recorded a total of 14,273 shares at a value of K112,125.04.

In markets abroad, U.S markets were closed on Monday in commemoration of President’s Day. Japan’s Nikkei share average fell on Tuesday retreating from a near eight-year high after talks between Greece and euro zone concerns. The Nikkei fell 10.18 points or 0.06% to 17,994.59 points. The Australian share market closed lower, pulled down by the banking sector’s poor earnings and fears around the Greek debt standoff. The benchmark index S&P/ASX 200 sliced 30.46 points or 0.52% to 5,858.20 points.

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