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KSI Daily Report: Wednesday, 11 June 2014

POMSOX trading on Wednesday was modestly active as eight stocks were traded. However, the main index KSi fell 0.87 points to 3,685.74 points while the Home Index KSHi remained at 7,972.99 points.

There were 35 trades done today.

PNG’s leading oil and gas company Oil Search Ltd (OSH) was on a loss closing at K19.00, down a toea.

Stocks that traded however remained unchanged were Marengo Mining Ltd (MMC) at 12 toea with City Pharmacy Ltd (CPL) and Credit Corporation Ltd (CCP) at K1.82 and K2.70 respectively. Meanwhile, portfolio management stock Kina Asset Management Ltd (KAM) completed at K1.07, and leading financial stock Bank South Pacific Ltd (BSP) was unmoved at K7.50.

Total shares registered were 196,856 units worth of K52,346.83.

In overnight trading, U.S stock market picked up in late trading on Tuesday and finished marginally higher, its 10th record this year due to wholesale inventories and job openings. DJIA rose 2.82 points to end at 16,945.92 points. Asian markets ended mixed today. Japanese stocks rose as the Nikkei share average rose 58 points or 0.38% to 15,052 points. Australian share market finished just about flat as retailers announced profit downgrades. The benchmark S&P/ASX 200 fell 22.85 points (-0.42%) to close at 5,466.80 points today.

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