KSi daily Update: Wednesday, 6 November 2013

Wednesday’s trade on POMSOX saw the Kina Securities Main Index, KSi, gained 2.95 points to 3,903.67. Likewise, the Kina Securities Home Index, KSHi, advanced 36.16 points or 0.44% ending at 8,220.78.

Two stocks traded on gains while the other two traded unchanged.

Financial holding stock, Credit Corporation Ltd (CCP) traded at a toea higher at K2.60 on the company’s share buyback scheme. Oil Search Ltd (OSH) a leading oil and gas company in PNG closed at K16.11, also up a toea.

Meanwhile, Bank South Pacific Ltd (BSP) remained at K8.01 while City Pharmacy Ltd (CPL) ended at K1.90 flat.

Total volume of shares registered today was 40,962 units at value of K161,549.26.

In overseas markets, the major averages in U. S. stockmarkets ended on a mixed note as the Nasdaq added 0.1% while the Dow Average closed 20.90 points lower at 15,618.20. Asian stocks broadly rose with Japan’s Nikkei ending at 14,337.30, up 111.94 points or 0.79% on Bank of Japan monetary easing that will stoke inflation. Hang Seng gained 0.06% at the close. Australia’s S&P/ASX 200 also added a mere 0.03% to 5,433.81 points despite “solid” revenue growth by Commonwealth Bank and big miner stocks.

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