KSi Daily Report: Friday, 11 April 2014

The Kina Securities main stock index, the KSi, closed slightly higher today with one key mining stock gaining ground. The index ended up 0.88 points or 0.2% to 3,642.32 points, Meanwhile, the home index or the KSHi remained steady at the same level of 8,130.97 points.

The co-partner to the largest LNG-project in PNG to begin sale in third quarter of 2014 , operated by Exxon-Mobile Ltd, advanced 1 Toea to end at K17.82.

Meanwhile, junior cap miner Marengo mining ltd (MMC) closed 14 toea flat.

Only 27,942 units were traded worth of K27,942.88.

In US, The Dow Jones Industrial Average tumbled again, dropping 266.96 points, or 1.6%, to 16,170.22, its worst one-day percentage drop in more than two months as investors fled biotech, Internet and other high-growth stocks, the sectors that had led the last leg up of the maturing bull market. The Japanese Nikkei followed, dipping 340.07 points or 2.4% to 13,960.05 point, tumbling to six-month lows on Friday and posted their biggest weekly fall on U.S. panic selling. Likewise, The Australian share market sharply lower after sell-off on Wall Street. At the close on Friday, the benchmark S&P/ASX200 index was 52.2 points, or 0.95%, lower at 5,428.60 points.

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