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KSi Daily Report: Thursday, 29 May 2014

The Kina Securities main Index, the KSi, surged 35 points or 0.43% on Thursday helped by impressive advance by a key miner stock on POMSoX. The trading session was active as four stocks were traded. The main index gained ended at 3,706.39 points while the home index, KSHi, remained at 8,082.74 points.

There was one stock that gained on today’s session.

PNG’s leading oil and gas company Oil Search Ltd (OSH) was the winning stock, gaining 40 toea to close at K18.60, aided by the advance on ASX recently as the dual-listed stock.

A junior cap miner Marengo Mining Ltd (MMC) closed most active in terms of trading volume at 12 toea, followed by a leading financial institution Bank South Pacific Ltd (BSP) at K7.70. Meanwhile portfolio management company Kina Asset Management Ltd (KAM) was even at K1.07.

Total volume registered today was 27,090 units at a share value of K245,394.21.

In overseas, U.S stocks ended Wednesday’s choppy session slightly lower with the main benchmark indices ending their four-day winning streak. The DJIA fell 42.32 points, (-0.25%) at 16,633.18 points. Asian stocks rose modestly on Thursday supported by expectations of easier monetary policy from the European Central Bank. Japan’s Nikkei share average added 11 points or 0.07% to end at 14,682. Australian shares closed lower as falling iron prices weighed upon the resources sector. The benchmark index S&P/ASX 200 declined 7.68 points or 0.14% to 2,042.62.

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