KSi Daily Report: Tuesday, 24 June 2014

Kina Securities stock indices were mixed on Tuesday as stocks headed in opposite directions in less than 20 trades on POMSoX. The Main Index or KSi closed 22.95 points (+0.30%) higher at 3,699.27 points while the Home Index or KSHi lost 104.77 points (-1.36%) to 1.599.22 points.

There were two stocks that gained compared to an equal number of loss.

Oil Search Ltd (OSH) completed higher making an impressive gain of 40 toea to end the session at K19.50, followed closely by New Britian Palm Oil Ltd (NBO) up by 1 toea at K15.06.

Bank South Pacific Ltd (BSP) fell again, as the largest banking and financial stock in PNG in terms of market capitalization was off 20 toea to K6.80, the lowest in two years, and New Guinea Energy Ltd (NGE) closed 11 toea lower at 10toea.

Credit Corporation Ltd (CCP) was unchanged, keeping its steady price at K2.70 supported by the company’s ongoing share buyback plan.

The day’s trading session recorded a low volume of 30,762 shares with Kina value of K293,450.10.

U.S. stocks ended its overnight session marginally lower after days of rally, with the Dow Jones industrial average shedding 9.82 points, or 0.1%, to 16,937.26. Japan’s stocks eked out small gains to hit a 5-month closing high on Tuesday, as the focus in domestic markets turned to policy initiatives to boost growth. The Nikkei Index ended 6.96 points or 0.05% higher at 15,432.80 points. ASX was lower on disappointing manufacturing data out of Europe. The benchmark S&P/ASX200 index was down 20.50 points, or 0.43% to 5,429.80 points.

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