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KSi Daily Report: Monday, 27 February 2017

Monday’s trading session saw one stock index gaining amid thin trading. The Kina Securities main advanced 203.62 points or 4.22% to end higher at 5,028.66 points. Meanwhile, the Kina Securities Home Index KSHi was steady at 10,694.79 points.

Mining giant Newcrest Mining Ltd (NCM) surged up to K50.00, advancing by K4.00.

Stocks trading unchanged were Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) at K9.02 and K1.95 flat respectively.

On other announcements, Kina Securities Ltd (KSL) announced a net profit of PGK41.0 million full year 2016. The company also declared a final dividend of PGK10 toea per share, taking the full year dividend to 20toea per share. The stock also remained unmoved at K2.70 at the close of market.

A thin volume of 4,372 shares were recorded valued K30,753.05.

U.S stocks staged a last minute rally with major indexes turning positive ahead of extended record-setting streak. The Dow Jones Industrial Average rose 9.1 points or 0.1% to end at 20,819.84 points. Japan’s Nikkei share average fell to 2 ½ week lows as the yen strengthened and as financial stocks dropped on lower U.S yields. The Nikkei slumped 176.07 points or 0.91% to 19,107.47 points. The Australian stock market was modestly lower, falling for a sixth session in the last seven as lower commodity prices weighed on resource stocks. S&P/ASX 200 fell 11.5 points or 0.20% to 5,727.50 points.

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