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KSi Daily Report: Friday, 01 July 2016

The first day of July was opened on a rather quiet note as both Kina Securities indices were unmoved on POMSOX trading session on Friday. The Kina Securities main index KSi was maintained at 4,627.05 points and likewise the Kina Securities Home Index KSHi was steady at 9,668.45 points.

PNG’s leading banking and financial stock in terms of market capitalization Bank South Pacific Ltd (BSP) was the only stock traded for the day at K8.10 unchanged. The day’s trading recorded a light volume of 493 shares valued at K3,993.30.

In overnight trading, U.S stocks logged their third day in a row of post-Brexit gains, bolstered by the expectation that some of the world’s largest central banks will further expand their monetary stimulus efforts. The Dow Jones Industrial Average gained 235.31 points or 1.33% to 17,929.99 points. Japan’s Nikkei share average rose on Friday for a fifth day as bargain hunting continued and risk appetites remained solid after U.S and European shares gained. The Nikkei advanced 106.56 points or 0.68% to 15,682.48 points. The Australian share market continued a strong run for a third straight session as fears over Britain’s vote to leave EU ease. The S&P/ASX 200 was up 13.2 points or 0.25% to 5,246.60 points at the close of market.

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