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KSi Daily Report: Tuesday, 12 November 2013

The Kina Securities Main index closed in positive territory for second straight session on POMSOX Tuesday as key mining stock advanced further. The KSi completed 42.69 points higher from yesterday’s close at 3,830.15 points while the Kina Securities Home index or KSHi was flat at 8,219.37 points today.

One stock gained versus an equal number of loss.

Oil Search Ltd (OSH) made yet another impressive gain by 50 toea to K17.01 reflecting ASX’s recent strengthening of mining stocks.

Marengo Mining Ltd (MMC) continued its slide, down a toea at 18 toea but the junior cap mining stock made little impact on the Kina indices.

Meanwhile Banks South Pacific Ltd (BSP) registered at K8.01 flat as the only stock that traded unchanged for the session.

Tuesday’s trading recorded a mild volume of 14,333 units at K37,429.20.

U.S. stocks crept higher overnight, giving the Dow Jones Industrial Average its 35th record close this year after the market got a lift from encouraging Chinese economic reports that came out over the weekend and Friday’s better-than-expected U.S. jobs report. The DJIA gained 21.32 points (+0.14%) at 15,783.10 points. In Asian Markets, Japanese stocks outperformed Asian markets for the second straight session Tuesday as the yen weakened to its lowest level in seven weeks; the benchmark Nikkei share average rose 318.84 points (+2.2%) to 14,588.68. Australia’s S&P/ASX 200 also followed the upward trend, up 6.00 points (+0.11%) at 5,393.10 points on gains by mining and chemical companies despite weaker bank stocks.

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