KSi Daily Report: Tuesday, 29 December 2015

Tuesday’s POMSOX trading session saw both Kina Securities Indices head in opposite directions amid a moderate trading. The Kina Securities Main Index KSi fell 80.11 points or 2.29% to 3,411.44 points while the Home Index KSHi closed 7.58 points or 0.08% higher at 9,599.58 points.

Two stocks gained compared to another stock that lost today.

The advances were attributed to the home-listed financial stock Credit Corporation Ltd (CCP) at K2.25 up a toea followed by another financial stock Kina Securities Ltd (KSL) collecting 5 toea at K2.65.

On the downside, PNG’s Oil and gas stock Oil Search Ltd (OSH) closed 80toea lower to end at K14.00 amid weaker ASX prices.
Stocks traded however remained unchanged were Bank South Pacific Ltd (BSP) and City Pharmacy Ltd (CPL) at K7.50 and K1.33 respectively.

Today’s POMSOX trading registered 18,966 shares valued at K92,537.14.

In off- shore news, U.S. stocks rebounded from session lows but finished lower in overnight trading, weighed down by a drop in energy stocks and oil prices. The Dow Jones Industrial Average declined 23.90 points, or 0.1%, to close at 17,528.27 points. Japan’s Nikkei share average was up amid a choppy trading session on Tuesday though stocks which are more sensitive to domestic demand such as construction companies outperformed more global, cyclical counters. The Nikkei rose 108.88 points or 0.58% at 18,982.23 points at close of market. In Australia, The Santa rally has continued for share market, with the market enjoying its eighth straight day of gains despite an overnight fall on Wall Street and crude oil falling yet again to 2004 lows. By close of market today, The S&P/ASX 200 had gained 59.70 points or 1.15% to close at 5,267.30 points.

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