KSi Daily Report: Wednesday, 14 May 2014

A quiet day on POMSoX trading resulting in Kina Securities Indices closing unchanged. The main index or KSi stayed at 3,658.44 points while the home index or KSHi remained at 8,089.79 points.

Only a single stock was traded today.

The leading financial institution in PNG, Bank South Pacific (BSP) traded at K7.70 with 10,607 units changing hands worth a Kina value of K81,674.00.

In markets abroad, U.S stocks hit another new high overnight. The Dow Jones Industrial Average edged 19.97 points or 0.12% higher to 16,715.44 despite soft hit on tech stocks. Asian stocks extended biggest rally in seven weeks as investor weighed on better earnings. The Nikkei Share average fell 20 points or 0.14% to close at 14,406. Australian stocks ended lower despite announcement of the federal budget as it could be a headwind for economic growth. The benchmark S&P/ASX 200 was on the red off 5.29 points (0.10%) to 5,492.90.

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