KSi Daily Report: Wednesday, 4 December 2013

Both Kina Securities stock indices moved further lower from yesterday’s close caused by a home-listed stock. The KSi declined a mere 0.15 points at 3,857.55, similarly the KSHi was down 2.54 points (-0.03%) to 8,214.50 today.

One stock lost with no gainer for the session.

Airlines PNG Ltd (CGA) posted its first trade in 5 month moving lower by a toea to close 35 toea on thin trading.

The financial stocks, Bank South Pacific Ltd (BSP), Kina Asset Management Ltd (KAM) and Credit Corporation Ltd (CCP) were traded unchanged at K8.00, K1.10 and K2.60 respectively. Meanwhile , Oil Search Ltd (OSH) kept its strong hold at K17.31.

Wednesday’s trading recorded a total volume of 10,684 units valued at K28,284.76.

US. stocks fell overnight, with the Dow Jones Industrial Average falling for a third straight day on uncertainty over when the Federal Reserve will begin to scale back stimulus amid fears of the market was overdue for a pullback from record levels. The Average dropped more than 100 points during the session before settling at 15,914.62, down 94.15 points, (-0.6%). Likewise, Japan’s Nikkei Stock Average fell sharply by 341.94 points (-2.17%) at 15,407.94 points on Wednesday as the yen regained some lost ground. However, Australian sharemarket finished higher, bringing three days of losses to an end as the big miners rose while the Australian dollar tumbled after the country’s disappointing third-quarter growth data of 0.6%. The S&P/ASX 200 gained 17.70 points (+0.34%) at 5,273.80 points at close today.

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