KSi Daily Report: Wednesday, 28 October 2015

Wednesday’s POMSOX trading session was active but Kina Securities Indices ended on a negative note. The Main Index KSi shed 1.24 points or 0.04% to 3,493.60 points. Likewise, the Home Index or KSHi declined 4.75 points or 0.05% to end at 9,658.35 points.

The fall in the indices was attributable to dual-listed financial stock, Kina Securities Ltd (KSL), down by 10toea to close at K2.50. Meanwhile, the stock ended at $1.17, down 10cents in ASX.

Other stocks traded included banking and finance stocks Credit Corporation Ltd (CCP) and Bank South Pacific Ltd (BSP) at K2.40 and K7.44 even respectively. The pharmaceutical-retail stock City Pharmacy Ltd (CPL) ended at K1.35 flat.

Today’s trading registered a total of 136,481 units valued at K385,144.39.

POMSoX announced that Marengo Mining Ltd (MMC) has officially ceased or delisted from the PNG Stock Exchange as of today.

U.S stocks slipped for a consecutive day in overnight trading on a combination of slumping oil prices, soft economic data and mixed earnings with investors cautious ahead of the Fed’s policy statement. The Dow Jones Industrial Average fell 41.62 points or 0.24% to end at 17,581.43 points. Japanese stock rose during light trading ahead of Fed and Bank of Japan meetings as the Nikkei gained 115 points or 0.61% to 18,892.04 points. The Australian share market has closed lower as investors look to the US for any sign of an interest rate move in the world’s biggest economy. At the close on Wednesday, the benchmark S&P/ASX 200 index was 10.95 points, 0.20% lower at 5,335.20 points.

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