KSi Daily Report: Monday, 16 June 2014

The Kina Securities main stock index, the KSi, closed marginally higher today with one key mining stock gaining ground. The index ended up 4.38 points or 0.06% to 3,687.05 points. Meanwhile, the home index or the KSHi remained steady at the same level of 7,919.76 point amid a very thin trading POMSoX session.

Oil Search Ltd (OSH) was the sole winner for the day, as The co-partner to the largest LNG-project in PNG, operated by Exxon-Mobile Ltd, advanced 5 toea to end at K19.05.

Bank South Pacific Ltd (BSP) was the only stock traded unchanged closing at K7.40.

Only 2,457 units were traded worth of K22,387.45 for Mondays’ trading session.

In the overseas trading, U.S stocks ended higher on Friday despite mounting concerns over hostilities in Iraq and rising oil prices. The Dow Jones Industrial Average rose 41.55 points or 0.25% to end at 16,775.74 points. The Japanese Nikkei dropped 164.55 points or 1.1% to 14,933.29 points on Monday as oil prices extended gains as the insurgency in Iraq raised concerns about potential disruption to oil exports.Meanwhile, The Australian share market edged higher boosted by mining stocks and rising commodity prices helped by the share market overturn early falls with the benchmark S&P/ASX 200 rising 7.20 points or 0.13% to 5,412.30 points today.

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