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KSi Daily Report: Thursday, 12 June 2014

POMSOX trading was quiet for Thursday’s session with both Kina Securities Indices finishing in negative territory. The main index, KSi declined by 3.07 points or 0.04% at 3,682.67 points, likewise the Home Index or KSHi closed lower at 7,919.76 points by 53.23 points or 0.67%.

PNG’s leading financial institution Bank South Pacific Ltd (BSP) was the only stock traded today, ending 10 toea lower at K7.40, with a mild volume of 1,555 shares valued at K22,507.00.

In markets abroad, the U.S stock market fell in overnight trading with the Dow Jones Industrial Average snapping a five-day winning streak and retreating from the record level reached on Tuesday. The DJIA declined 102.04 points or 0.60% at 16,843.88 points. Likewise, Japanese shares fell on Thursday after the World Bank’s downward revision of its global growth forecast soured sentiment, with The Nikkei ending 95.95 points or 0.6% lower to 14,973.53 points. The Australian share market followed the downward trend, closing lower due to weakness in resources stocks and negative overseas leads, the benchmark S&P/ASX200 index was down by 25.20 points, or 0.46% at 5,428.80 points by close of market Today.

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