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KSi Daily Report: Tuesday, 28 January 2014

Kina Securities main index edged slightly higher today with one key stock gained on POMSoX Tuesday. The index ended up 0.87 points or 0.02% to 3,869.89 points, while the home index or KSHi was unmoved at 8,210.38 points.

None of the other stocks that traded today fell.

The co-partner to the largest LNG-project in PNG, Oil Search Ltd (OSH) advanced a toea to end at K17.53, which also gained ASX by 12 cents at $8.26. The company says today total revenue for the quarter ending December was US$210.0 million, 20% higher than the third quarter.

Bank South Pacific Ltd (BSP) led the unchanged stocks at K7.98, followed by another home stock, City pharmacy Ltd (CPL) at K1.95 flat. Kina Asset Management Ltd (KAM) traded at K1.10 even.

Only 25,914 units were traded worth of K68,023.84 on POMSoX today.

U.S. stocks extended losses Monday in a volatile session as worries over emerging-markets currencies lingered. The Dow Jones Industrial Average dropped 41.23 points or 0.20% to 15,837.88. Asian stocks were generally weaker to mixed. Japan’s Nikkei average fell to a fresh two-month low on Tuesday as investors stayed cautious before the Federal Reserve’s policy meeting. The Index shed 25.57 points or 0.17% to 14,954.97, its lowest close since Nov. 14, having erased earlier gains. The Australian sharemarket recovered earlier losses but still closed lower amid weakness in the resources sector and big banks. The S&P/ASX 200 closed at 5,175.10 points, down 65.80 points or 1.26% today.

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