KSi Daily Report: Wednesday, 22 June 2016

Wednesday’s POMSOX trading session was active as both Kina Securities stock indices closed higher. The Kina Securities main index KSi advanced 100.87 points or 2.21% to 4,674.80 points. The Kina Securities Home Index KSHi was down 6.66 points or 0.07% to 9,572.57 points.

One stock gained compared to another that lost today.

PNG’s leading dual-listed oil and gas stock Oil Search Ltd (OSH) was the sole winner for the day. The stock collected K1.00 to end high at K17.00.

On the downside, Credit Corporation Ltd (CCP) closed a toea lower to end at K1.68.

Meanwhile banking and financial stock Bank South Pacific Ltd (BSP) was evened out at K8.00.

Total shares transacted today was 41,196 units at a monetary value of K155,677.96.

In overseas markets, U.S stocks closed slightly higher after trading within a narrow range Tuesday after Chairwoman cautioned that U.K was leaving the EU posed a risk. The Dow Jones Industrial Average climbed 17.00 points or 0.10% to 17,754 points. Japan’s Nikkei share average fell on Wednesday as investors locked in profits ahead of a potentially market-disrupting British referendum later this week. The Nikkei slumped 103.39 points or 0.64% to 16,065.72 points. The Australian share market traded flat as investors remained cautious ahead of the UK’s imminent vote on whether to stay in or exit the EU. The benchmark S&P/ASX 200 index was down by 3.5 points or 0.07% to 5,270.90 points.

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