KSi Daily Report: Tuesday, 26 September 2017

Kina Securities main stock Index, the KSi, took back what it had lost yesterday. The index gained 10.76 points or 0.21% to 5,215.97 However, the home stock index or the KHSi remained steady at 11,004.82 points.

Only one stock gained compared to none that lost today.

Positive movement of the Main index was attributed to PNG’s largest oil and gas producer, Oil Search Ltd (OSH) at K17.15 which collected 10toea today following strong ASX prices. The dual listed stock on the ASX picked up 19cents to $7.05 on the back of improved international crude oil prices.

Meanwhile, Bank South Pacific Ltd (BSP) traded unchanged at K9.50.

The day’s trading session recorded a total of 427 shares valued at K5,586.50.

In off-shore news, U.S. stock-market indexes closed lower in overnight trading led by sharp declines in technology shares. The Dow Jones Industrial Average declined 53.50 points, or 0.24%, to 22,296.09 points Japan’s Nikkei average edged lower on Tuesday as tech shares and Apple suppliers declined, tracking their U.S. counterparts overnight, while concerns over North Korea sapped risk appetite. The Nikkei ended 67.39 points or 0.33% lower at 20,330.19, moving away from a two-year high of 20,481.27 hit last week. In Australia, Energy stocks were the day’s winners after crude oil prices jumped overnight, but share market gains were squashed by selling in the banks, miners and retail stocks. The S&P/ASX 200 index was down 12.70 points or 0.22% at 5,671.00 points.

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