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KSi Daily Report: Wednesday, 06 July 2016

Both Kina Securities stock indices closed Wednesday’s trading session on a positive note. The Kina Securities Main index or KSi added 13.16 points (+0.28%) at 4,640.21 points likewise the Home index or KSHi collected 49.25 points (+0.51) at 9,717.70 points today.

Wednesday’s session recorded a gain versus nil losses.

Bank South Pacific Ltd (BSP), the largest banking and financial stock in terms of market capitalisation in PNG, closed at K8.15, up 5toea. The increase has caused both indices to close higher.

Unmoved stocks for the session were Credit Corporation Ltd (CCP) and Oil Search Ltd (OSH) completing K1.68 and K17.00 respectively.

The day’s trading recorded a combined volume of 81,168 shares valued at K650,184.14

In off-shore markets, U.S stock investors quashed a four-session rally in overnight trading as Brexit-related uncertainties resurfaced to spook the market, on a day marked by light-trading volume following Independence Day. The Dow Jones Industrial Average declined 74.00 points or 0.42% to 17,688.00 points. Japanese stocks fell to more than one-week lows as renewed Brexit worries heightened uncertainty about the global economy and took toll on exporters and financial stocks. The Nikkei share average tumbled 290.34 points or 1.85% to 15,378.99 points. In Australian share markets, energy, resources and financial companies led the Australian share market lower on renewed fears about the economic implications of the UK Brexit. The benchmark S&P/ASX 200 index fell 30.5 points or 0.58% at 5,197.50 points as most sectors closed in red territory.

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