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KSi Daily Report: Wednesday, 04 November 2015

The Kina Securities main stock index, the KSi, closed lower today with one key mining stock losing ground. The Index ended down 20.22 points or 0.56% to 3,570.37 points. Meanwhile, the home index or the KSHi remained steady at the same level of 9,655.42 points amid a very thin trading POMSoX session.

The co-partner to the largest LNG-project in PNG, operated by Exxon-Mobile Ltd, retreated 20 toea to end at K16.00. However the dual listed stock was up 8 cents at $7.98 on the Australian stock market.

Meanwhile, Bank South Pacific Ltd (BSP) traded unchanged at K7.44 flat. Kina securities Ltd (KSL) remained untraded at K2.50. In ASX, the stock gained 8c to $1.25 with 55,000 units traded.

Only 2,282 units were traded worth of K18,048.08 on POMSoX today.

U.S. stocks finished higher in overnight, shrugging off lacklustre corporate results to extend gains for a second session in a row, as energy shares helped prop up the main indexes. The Dow Jones Industrial Average rose 89.39 points, or 0.5%, to close at 17,918.15 points. Japanese stocks rose on Wednesday buoyed by gains on Wall Street and strong debut by three firms affiliated with Japan Post IPO shares. The Nikkei Share Average jumped 243.67 points or 1.30% to 19,926.91 points by close of market. The Australian shares closed slightly higher, buoyed by the big miners by the close, the benchmark S&P/ASX200 index was 3.1 points, or 0.06% higher at 5,242.30 points at end of Wednesday.

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