KSi Daily Report: Wednesday 21, May 2014

POMSOX trading session on Tuesday was modest resulting in both Kina Securities Indices making a gain. Kina Securities Index or KSi collected 1.51 points at 3,658.38 points. Likewise, the Home Index or KSHi advanced 41.48 points or 0.52% to end at 8,088.74.

Today’s trading session recorded 12 trades.

Leading financial institution Bank South Pacific Ltd (BSP) was the winning stock adding 1 toea to close at K7.70, and another financial stock Credit Corporation Ltd (CCP) added 10 toea to end at K2.70.

Stocks that remained unchanged were led by junior cap mining stock Marengo Mining Ltd (MMC) at 12 toea in terms of trading volume of 40,650 units. PNG’s oil and gas company Oil Search Ltd (OSH) and portfolio management company Kina Asset Management Ltd (KAM) at K18.05 and K1.05 respectively.

Wednesday’s trade registered 45,024 units of shares at a worth of K34,842.30 .

In overnight trading, U.S stocks ended on the red with broad-based losses from weak retail earnings. The Dow Jones Industrial Average fell 137.55 points or 0.83% to end at 16,374.31. Asian stocks tipped lower due to weak U.S sessions. Japan’s Nikkei share average fell 33 points or 0.24% to close at 14,042. Australian share market performed mixed across all sectors on weak mining sector over disappointing iron ore data in China. The benchmark S&P/ASX 200 gained 4.25 points to 5,424.60.

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