KSi Daily Report: Tuesday, 30 December 2014

Both Kina Securities Indices ended in positive territories after POMSOX closed trading on Tuesday, a day before New Year Eve. The Main index KSi collected 2.09 points or 0.06% to 3,496.88 points. Likewise, the Home index KSHi rose by 36.15 points or 0.38% to 9,555.27 points.

Tuesday’s session recorded only one gain with none of the traded stocks that fell.

The winner stock for the day belonged to a financial lender, Credit Corporation Ltd (CCP) that ended at K2.60, up 10toea.

Stocks traded unchanged were led by Bank South Pacific Ltd (BSP) and junior cap miner Marengo Mining Ltd (MMC) at K7.14 and 5toea flat respectively. Oil Search Ltd (OSH) and agricultural stock New Britain Palm Oil Ltd (NBO) finished at K16.00 and K26.00 even respectively.

Today’s trading session registered a trading volume of 40,376 units at Kina value of K149,480.78.

The Dow Industrials Index snapped a seven-session winning streak, pulling back from a record close achieved on Friday as Brent crude hits 5-1/2-year low near $57. The Average dipped 15.48 points or 0.09% to 18,038.23 points. Japanese stocks fell on Tuesday as investors closed positions ahead of the long New Year holidays and fretted over political turmoil in Greece. The Nikkei share average sliced 279 points or 1.57% to 17,461 points despite a tax reform plan being approved that will cut corporate taxes from April. Australian shares retreated as commodity prices fell sharply overnight, pressuring resources shares. The benchmark S&P/ASX 200 dropped 57.16 points or 1.04% to 5,416.62 points today.

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