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KSi Daily Report: Friday, 11 September 2015

The week ended on a quiet note for Friday’s POMSOX trading session as both Kina Securities Indices were unchanged. The Kina Securities main index, KSi remained at 3,557.80 points while the Kina Securities Home Index or KSHi was steady at 9,695.09 points.

Leading financial stock in PNG in terms of market capitalization, Bank South Pacific Ltd (BSP) was the only stock traded today. The stock closed unchanged at K7.40, registering 38,971 shares valued at K288,385.40.

In off-shore news, a solid rally in U.S stocks out of momentum in the final two hours ending modestly higher. The Dow Jones Industrial Average rose 76.83 points or 0.47% to 16,330.40 points. Japan’s Nikkei share average fell in choppy trade on Friday as investors remained focused on the U.S Fed’s monetary policy meeting next week. The Nikkei share average was up 97.42 points higher or 0.45% to 21,659.92 points at the close of market. The Australian share market closed lower as investors shaken by recent volatility sit on the sidelines ahead of the US central bank’s interest rate decision. The S&P/ASX 200 benchmark index declined 14.32 points or 0.28% to 5,080.70 points.

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