KSi Daily Report: Wednesday, 29 April 2015

Both Kina Securities stock indices stayed flat amid modest activity on POMSoX trading today. The main index KSi remained at 3,861.13 points while the home index KSHi remained unchanged throughout the session and closed at 9,750.66 points.

Four stocks that traded for the day all ended unmoved.

PNG’s leading oil and gas company Oil Search Ltd (OSH) traded at K16.00 even, followed by the financial stocks, Bank South Pacific Ltd (BSP), Credit Corporation Ltd (CCP) and Kina Asset Management Ltd (KAM) registered trades at K7.40, K2.55 and K1.00 respectively.

Wednesday’s trade registered 16,514 units exchanging hands with a monetary value of K90,071.95.
In New York, the Dow Jones Industrial average closed 72.17 points or 0.40% higher in an overnight choppy session amid disappointing earnings and weaker-than-expected economic data. Japan’s Nikkei share average rose on Wednesday helped by hopes of better shareholder returns after Fanuc Corp doubled its dividend payout ratio, but gains were limited ahead of a two-day U.S. Federal Reserve’s policy meeting. The Nikkei 225 ended 75.63 points or 0.38% higher to 20,058.95 points. However, the Australian S&P/ASX200 index was 109.9 points, or 1.85% lower at 5,838.60 points on Wednesday, with the banks the biggest losers in a session marked by widespread falls.

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