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KSi Daily Report: Tuesday, 21 October 2014

Kina Securities stock indices stayed flat despite modest activity on POMSoX trading today. The main index KSi gave up earlier session’s gain and remained at 3,804.66 points while the home index KSHi remained unchanged throughout the session and closed at 9,052.46 points.

Six stocks that traded for the day all ended unmoved.

A Junior mining explorer Marengo Mining Ltd (MMC) and PNG’s leading oil and gas company Oil Search Ltd (OSH) traded at 8 toea and K19.22 even. Bank South Pacific Ltd (BSP) and another financial stock Credit Corporation Ltd (CCP) ended at K7.14 and K7.14 flat. Meanwhile, portfolio management stock Kina Asset Management Ltd (KAM) registered trades at K1.06 while an agricultural stock New Britain Palm Oil Ltd (NBO) was steady at K23.00

Tuesday’s trade registered 68,213 units exchanging hands with a monetary value of K290,354.66

In markets abroad, U.S stocks closed higher on overnight trading, ahead of a busy week of corporate earnings without any major economic data releases. The Dow Jones Industrial Average added 19.26 points to 16,399.67 points. The Japan’s Nikkei slipped as investors retreated ahead of Chinese economic data. The index slumped 307 points or 2.03% to 23,041.43 points. The S&P/ASX 200 index added 5.59 points to 5,325.03 points as Australian shares trended slightly higher except for energy stocks today.

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