KSi Daily Report: Wednesday, 16 April 2014

Both Kina Securities stock indices recovered from yesterday’s losses after two home stocks improved on POMSOX. The Kina Securities Main index or KSi was up by 2.27 points or 0.06% at 3,646.14 points. Similarly, the Home index or KSHi advanced 39.43 points or 1.08% to 8,158.39 points by close of market today.

There were two stocks that gained against none of the stocks that fell for the POMSoX session today.

Bank South Pacific Ltd (BSP) collected a Toea to end at K7.78. The Kina Share indices were further assisted by the strong performance by the local agricultural stock, New Britain Palm Oil Ltd (NBO), which gained 20 Toea to K15.20.

Meanwhile, Credit Corporation Ltd (CCP) was the only stock traded unmoved today at K2.70, aided by the share buyback program.

The day’s trading recorded a total of 47,723 unites with a monetary value of K1,430,231.70.

In the U.S, treasury prices rose as fears peaked over a conflict in Ukraine but equities gained toward the end of the session as market refocused on stronger U.S economic growth. The Dow Jones Industrial average closed up 89.32 points or 0.55% to end at 16,262.56 points. Asian stocks rose for the first time in four days with the regional benchmark indices climbing from a two-week low, amid rebound in technology shares and speculation China may do more on growth stimulus. The Nikkei share average surged 421 points or 3.01%, ending at 14,418 points. Australian stocks rose as the S&P/ASX 200 index added 32.14 points or 0.60% to close at 5,420.30 points on the back of Wall Street overnight and t6he RBA announced that interest rates are set to remain steady.

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