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KSi Daily Report: Tuesday, 01 March 2016

Kina Securities stock indices opened the month of March weaker amid moderate trading on POMSOX. The main index KSi closed at 3,362.83 points, down by 0.31 points and similarly the Kina Securities Home Index, KSHi declined 9.85 points or 0.11% to 9,116.96 points.

PNG’s leading financial stock in terms of market capitalization Bank South Pacific Ltd (BSP) was the only stock traded. The stock closed a toea lower at K7.49, contributing to the negative indices. A total of 10,051 shares were transacted valued at K75,281.99.

Kina Securities Ltd (KSL) was not traded however maintained at K2.40. On ASX, the stock closed at 85c, down 5c.

In offshore markets, U.S stocks finished lower in overnight trading posting three straight monthly declines for the first time since 2011, while the Dow Jones Industrial Average shed 123.47 points or 0.74% to 16,516.50 points. Japan’s Nikkei share average fell tracking Wall Street and hit by concerns about the strong yen, with investor sentiment further soured by a weak Chinese manufacturing survey. The Nikkei gained 58.75 points or 0.37% to 16,085.51 points. Stronger commodities prices drove the Australian share market higher, with large gains among the big miners and energy players, helping to lift up the local markets. Benchmark index S&P/ASX 200 rose 41.33 points or 0.85% to 4,922.25 points.

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