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KSi Daily Report: Monday, 17 February 2014

POMSOX stocks opened the week on a moderate trading session. The Kina Securities Main Index, or the KSi, retreated, dropping 250.48 points or 6.48% to 3,615.34 points. Meanwhile the Kina Securities Home Index, KSHi remained stead, gaining 5.33 points or 0.07% at 8,091 points.

One stock gained while another one fell. The rest were unchanged.

A leading financial institution Bank South Pacific Ltd (BSP) closed higher, adding a toea at K7.95.

Newcrest Mining Ltd (NCM) traded much lower, down K5 to K25.00 on seemingly lack of trading liquidity

Stocks that remained unchanged were led by Credit Corporation Ltd (CCP) in terms of trading value at K2.55 at the close. A leading oil and gas company in PNG Oil Search Ltd (OSH) ended at K17.53 even.

Total shares registered for the day were a total of 56,988 shares at a share value of K199,334.17.

In the overseas market, U.S Stocks improved on better economic data Friday as the Dow Jones Industrial Average surged 126.80 points, 0.79% higher, closing at 16,154.39 points. In Asia Japan’s Nikkei stock average edged up on Monday, taking gains on Wall Street. The Index ended 80.08 points or 0.56 % higher at 14,393.73, snapping a two-day losing streak. Australian share market finished higher as a result of local earnings and offshore gains. The S&P/ASX 200 closed 26.64 points higher, 0.50% ending at 5,382.90 points on the market.

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