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KSi Daily Report: Wednesday, 27 January 2016

The Kina Securities main stock index, the KSi, closed marginally higher today with one key stock gaining ground. The index ended up 1.02 points (+.03%) to 3,355.84 points. Meanwhile, the home index or the KSHi remained steady at the same level of 9,326.62 points amid a very thin trading on POMSoX session.

The co-partner to the largest LNG-project in PNG, operated by Exxon-Mobile Ltd, advanced a toea to end at K14.06 amid a rebound in world oil prices and a strong December quarter operational result that was released today.

Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) both closed unchanged at K7.48 and K2.05 respectively.

Only 7,301 units were traded worth of K58,695.53.
U.S. stocks ended sharply higher in overnight trading as energy stocks soared amid a rebound in oil prices. The Dow Jones Industrial flirted with a 300-point gain before pulling back. It closed up 282.01 points, or 1.78%, at 16,167.23 points. Japan’s Nikkei rose to a near two-week high on Wednesday after Wall Street rebounded, while investors were cautious ahead of a U.S. Federal Reserve meeting statement due out later in the day. The Nikkei share average ended 455.02 points or 2.75% higher at 17,163.92 points. The Australian market had closed lower today after returning from Public Holiday (Australia Day) after Resource and financial companies led the falls. The benchmark S&P/ASX200 index was down 60.20 points, or 1.2% at 4,946.40 points.

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