KSi Daily Report: Wednesday, 02 July 2014

Both Kina Securities indices closed higher after POMSoX closed for Wednesday’s trading. The main index KSi edged 0.10 points at 3,716.74 points and Home Index KSHi added 14.67 points or 0.19% to 7,915.53.

Two stocks fell while another stock gained.

The financial stock Credit Corporation Ltd (CCP) helped lift the indices as it gained 5 toea to K2.70.

Meanwhile, the agricultural stock New Britain Palm Oil Ltd (NBO) ended at K15.05, down by 2 toea, and accompanied by a junior cap miner Marengo Mining Ltd (MMC) that sliced a toea at 10 toea at the close.

PNG’s oil and gas company, Oil Search Ltd (OSH) was the only stock traded unchanged for the session at K19.50 recovering from early afternoon’s low at K19.05, down 45 toea.

Wednesday’s trading recorded a total of 27,803 at share value of K67,929.65

In New York, U.S stocks kicked off the third quarter on a positive note rising to record highs overnight despite mixed data and low volumes. The Dow Jones Industrial Average advanced 129.47 points or 0.77% to 16,956.07 points. Asian stocks markets closed higher following an upbeat manufacturing report from China as exporters gained on strong U.S data. Japan’s Nikkei share average rose 55 points or 0.36% to end at 15,381 points. The Australian share market rose on positive economic signs from China and strong leads from Wall Street. The benchmark index S&P/ASX 200 gained 71 points or 1.32% to 5,446.90 points today.

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