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KSi Daily Report: Friday, 15 January 2016

The Kina Securities main stock index, the KSi, closed marginally higher today with one key mining stock gaining ground. The KSi ended up 10.10 points or 0.30% to 3,374.431 points while, the home index or the KSHi remained steady at the same level of 9,433.02 point amid a very thin trading POMSoX session.

Friday’s session ended with a single gain and nil losses.

The co-partner to the largest LNG-project in PNG, operated by Exxon-Mobile Ltd, advanced 10toea to end at K14.20. It was the only stock that gained today.

Bank South Pacific Ltd (BSP) closed unchanged at K7.50 flat.

Only 2,376 units were traded worth of K26,275.40.

In markets abroad, U.S. stocks rallied sharply in overnight trading as a rebound in oil prices allowed the main indexes to claw back much of the steep fall seen in the previous session. The Dow Jones Industrial Average rose 227.69 points (+1.41%) at 16,379. In Aisia, Japanese stocks turned negative on Friday afternoon, giving up earlier after the Bank of Japan’s chief said he had no immediate plan to further ease policy. The Nikkei share average fell to 17,147.11 points after falling 93.84 points or 0.54%. Likewise, The Australian share market has reversed early gains to finish in the red as investors fret about China and oil prices. At the close on Friday, the benchmark S&P/ASX200 index was 16.6 points or 0.34% lower at 4,892.80 points.

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