KSi daily Update: Wednesday, 30 October 2013

Kina Securities stock indices extended gains helped by one financial stock after POMSOX closed on Wednesday. The main Index, the KSi, closed 2.08 points or 0.05%, at 3,901.35. The home Index or the KSHi added 36.15 points to 8,226.10 points.

One stock gained versus the rest that remained unchanged.

Credit Corporation Ltd (CCP) added 10 toea to end at K2.60, supported by the company’s share buyback scheme.

The Oil and Gas company, Oil Search Ltd (OSH) closed at K16.08, and junior cap exploration miner Marengo Mining Ltd (MMC) traded at 21 toea. Bank South Pacific Ltd (BSP) remained at K8.02.

Total share traded today was 27,353 units worth K53,728.08 on POMSoX.

The Niuminco group of companies (code: NIU) a junior Eddie Creek miner debuted today on POMSoX today with an indicative price of 2 toea per share but there was no trading, similarly to Indochine Ltd (IDC) on its first trading day. New Guinea Island Produce Ltd (NGP) says it will pay 2 toea interim dividend on 29 November (Ex-date: 1 November).

In overseas shares, New York Stocks closed higher overnight on hopes of stimulus plan. The Dow Jones Industrial Average advanced 111.42 points or 0.72% to 15,680.30 points. Hong Kong up 1.0% to 23,071.80 points, with the Japanese Nikkei closed at 14,502.30, a gain of 176.37 points or 1.23% and the Australian S&P/ASX200 moved 15.33 points or 0.28% higher at 5,430.85 points, all on overnight U.S. gains.

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