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KSi Daily Report: Thursday, 21 April 2016

Thursday’s POMSOX trading session saw both Kina Securities stock indices closed negatively. The Kina Securities main index, KSi was 258.06 points or 6.28% lower at 3,850.16 points. Likewise, the Kina Securities Home Index or KSHi declined 79.95 points or 0.87% to 9,106.28 points.

Two out of three stocks fell compared to nil gains.

On the downside, financial and banking stock Credit Corporation Ltd (CCP) shed 12toea to end at K1.68. Dual-listed mining giant Newcrest Mining Ltd (NCM) edged lower by K5.00 to close at K33.00.

PNG’s leading financial stock Bank South Pacific Ltd (BSP) was unchanged at K7.50.

Total shares transacted a total units of 25,314 valued at K169,934.70.

U.S stocks closed higher but off session highs as a turnaround by oil futures and upbeat housing data provided support. Dow Jones Average advanced 42.67 points or 0.24% to 18,096.27 points. Japanese stocks rose to a 5-1/2 week high after the yen resumed a weakening trend against the U.S dollar amid a bounce in oil prices and growing expectations of further easing from the BOJ. The Nikkei surged 415.63 points or 2.46% to 17,322.17 points. The share market was higher for a third straight day as resource and energy stocks continue to rise in value. The benchmark S&P/ASX 200 index was 43.15 points or 0.83% higher at 5,259.10 points.

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