KSi Daily Report: Wednesday, 15 October 2014

Wednesday’s POMSOX trading session saw both Kina Securities Indices heading south, pressured by a major agricultural home listed stock.

One stocks lost against none that gained for today’s session.

PNG’s agricultural stock New Britain Palm Oil Ltd (NBO) retreated K3 and closed at K23.00.

Stocks traded unchanged for the day were led by leading financial stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) at K7.14 and K2.60 respectively. Exploration mining Junior-cap company Highlands Pacific Ltd (HIG) closed at 15 toea flat. A retailing stock City Pharmacy Ltd (CPL) ended at K1.49. Meanwhile portfolio management company Kina Asset Management Ltd (KAM) ended at K1.06 even.

Total shares recorded today were 107,210 valued at K112,492.

In New York, U.S stocks fell away in the last hour of trading as U.S crude futures declined 4.55%, the biggest drop since November 2012, causing energy sector to fall. The DJIA shed 5.88 points (0.04%) to 16,315.19 points. However, Asian stocks recovered with the regional index advancing after its biggest three-day loss since March. The Nikkei share average surged 137 points (+0.92%) at 15,074 points. The benchmark index S&P/ASX 200 added 38.19 points (+0.73%) to 5,245.61 points today as Australian shares ended up slightly with broad gains.

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