The Kina Securities main stock index, the KSi, closed lower today with one key stock losing ground. The index ended down 60.21 points or 1.69% to 3,494.49 points. Meanwhile, the home index or the KSHi remained steady at the same level of 9,755.78 point
Only one stock fell compared to none that gained for today’s session.
Oil Search Ltd (OSH), the co-partner to the largest LNG-project in PNG, operated by Exxon-Mobile Ltd, withdraw a further 59 toea to end at K15.40. The duel listed stock also fell on the ASX at $6.88 down by 13 cents today.
Stock traded however remained unchanged were the two financials Bank South Pacific Ltd (BSP) and Credit Corporation Ltd at K7.44 and K2.50 respectively.
Wednesday’s session recorded a total volume of 1,354 units valued at K8,630.60
In off-shore news, U.S. stocks staged a dramatic finish, after a morning selloff to end the session with modest gains, following news reports that Greece proposed an interim financing until the end of July. The Dow Jones Industrial Average fell more than 200 points at session lows, but recovered to finish up 93.40 points, or 0.5%, higher at 17,776.00 points in overnight trading. Japan’s Nikkei share average fell to a seven-week low on Wednesday as investors feared a relentless selloff in Chinese shares could hurt Japanese companies relying on strong demand from China. The Nikkei fell 638.94 points or 3.14% to as low as 19,737.64 points. In Australia, Big falls in commodity prices and more turmoil on Shanghai’s stock market have pushed Australian shares deep into the red. By Wednesday’s close the benchmark S&P/ASX200 index was down 62.7 points at 5,518.7 points.