KSi Daily Report: Wednesday, 20 November 2013

Trading on POMSOX was quiet on Wednesday. Both Kina Securities Indices were unchanged with the main index or KSi staying steady at 3,832.13 points and the home index or KSHi remained at 8,229.93 at the close.

The was only one stock that traded today.

Oil Search Ltd (OSH), PNG’s largest oil and gas company traded at K17.01 flat with only 700 units traded worth K11,907.00.

U.S. stocks pulled back overnight, as investors showed caution after the Dow Jones Industrial Average failed to hold above milestone levels in the prior session. The DJIA fell 8.99 points, or less than 0.1%, to close at 15,967.03, snapping a four-day winning streak and easing from Monday’s record close. Japan’s Nikkei share average also eased on Wednesday as recent outperformers including banks and non-life insurers retreated The Nikkei dropped 50.48 (-0.33%) to 15,076.08 in choppy trade. Similarly, Australian stocks slid downwards for third straight day as investors continued profit taking. The S7P/ASX 200 declined 45.20 points (-0.84%) to close at 5,307.70 points today.

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