KSi Daily Report: Wednesday 18, June 2014

Wednesday’s POMSOX trading session was active with both Kina Securities Indices ending on the red. The main index, KSi, shed 1.58 points or 0.02% to 3,685.07 points. Likewise, the Kina Securities Home Index or KSHi declined 2.82 points or 0.04% to close at 7,916.94 points.

Today’s session recorded a winner against three losses.

PNG’s leading oil and gas company Oil Search Ltd (OSH) was the winning stock, gaining a toea to close at K19.06.

Stocks that ended on the downside included junior cap exploration companies Marengo Mining Ltd (MMC) at 11 toea, shedding a toea and Highlands Pacific Ltd (HIG) at 17 toea, down by 3 toea. Meanwhile, pharmaceutical and retail cum stock City Pharmacy Ltd (CPL) sliced off 2 toea, ending at K1.80.

Other stocks that were unmoved were financial institutions Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) at K7.40 and K2.70 respectively.

Wednesday’s trading recorded a substantial volume of 207,957 shares at a monetary value of K91,868.48.
In New York, U.S stocks ended slightly higher with the main benchmark gaining for the third consecutive day. The Dow Jones Industrial Average rose 27.48 points or 0.16% to end at 16,808.49 points. Asian stocks outside Japan fell ahead of a Federal Reserve Monetary Policy decision. Japan’s Nikkei share average surged 145 points or 0.97% to end at 15,121 points. the Australian share market finished on the red at the share market has fallen for a second straight day, due to a drop by energy stocks and weakness in the banking sector. The benchmark index S&P/ASX 200 fell 17.97 points or 0.33% to 5,382.70 points.

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