KSi Daily Report: Monday, 12 May 2014

Kina Securities stock indices gained territories after POMSoX closed trading on Monday. The main index, the KSi, collected 1.68 points, or 0.02% to 3,3655.75 points. Kina Securities Home index or the KSHi was steady at 8,088.74 points.

There were two gains registered on POMSoX compared to none that lost.

Kina Petroleum Ltd (KPL) hit new high on POMSoX today, adding 10 toea to K1.05 with a total volume of 327,089 shares traded. Oil Search Ltd (OSH), the largest oil and gas producer in PNG collected 1 toea to close at K18.01

Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) ended flat at K7.70 and K2.70 respectively. City Pharmacy Ltd (CPL) closed at K1.95 and Newcrest Mining Ltd (NCM) finished at K25.00.

Monday’s session recorded a considerable volume of 341,768 shares with monetary value of K403,433.60.

U.S stocks pared early losses to end mostly higher on Friday as the Dow Jones Industrial average edged 32.37 points, 0.20% to 16,583.34 points, an all-time high for the Index. Asian stocks advanced today as Chinese shares surged on speculation about government taking steps to bolster equities. Japan’s Nikkei share average was on the red by 50 points or 0.35% to end at 14,150 points. The Australian share remained cautious ahead of Tuesday’s federal Budget announcement which may include tax hikes and spending cuts as the benchmark S&P/ASX200 index fell 12.44 points, -0.23% to 5,448.40 points.

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