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KSi Daily Report: Thursday, 14 April 2016

The Kina Securities Indices remained on the same note as yesterday and closed flat for the second consecutive session. The main index stayed at 4,105.20 points while the home index of KSHI ended at 9,187.21 points.

Bank South Pacific (BSP) traded flat at K7.50 for Thursday’s trading session as the largest banking stock in terms of market capitalization in PNG was the only stock traded for the whole session recording a total of 2,149 units valued at K16,117.50.

U.S. stocks ended sharply higher in overnight trading logging a second straight session of gains and pushing the Dow industrials to its best one-day gain in nearly a month. The Dow gained 187.03 points, or 1.1%, at 17,908.28 points after release of better-than-feared results from J.P. Morgan Chase & Co. which helped lifts financial stocks. Japan shares rallied Thursday as the yen slipped slightly, relieving stock investors rattled by recent gains in the currency. Japan’s Nikkei Stock Average rose 2.6%. After a string of positive days, the benchmark is on track to mark its first weekly gain in three weeks. Japanese stocks climbed to their best level this month by midday on Thursday, with stocks continuing to rally as the yen pulled back against the dollar, while gains on Wall Street further burnished sentiment. The Nikkei share average rose 2.5 to end the morning session at 16,782.02 hitting its highest point since March 31. Japan’s benchmark index ended the morning session more than a thousand points higher than it began the week. The share market is higher with resource and financial stocks continuing to lead the gains. The benchmark S&P/ASX200 index was up 32.20 points, or 0.64% at 5,086.90 points.

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