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KSi Daily Report: Wednesday, 15 January 2014

Kina Securities stock indices closed weaker on POMSoX Wednesday amid active trading session. The Kina Securities Main Index or the KSi ended 4.66 points lower (-0.12%) at 3,867.73 points. Meanwhile the Kina Securities Home Index or the KSHi lost 36.15 points (-0.44%) to close at 8,180.96 points.

Two stocks lost with no gain in today’s trade.

Highlands Pacific Ltd (HIG), the junior exploration and mining company in PNG, closed 5toea lower at 15 toea. Same to down path was credit Corporation Ltd (CCP) as the financial stock in PNG declined 10 toea to K2.50.

Stocks traded but remained unchanged were led by Bank South Pacific Ltd (BSP) at K7.99 flat, and Newcrest Mining Ltd (NCM) and Oil Search Ltd (OSH) remained steady at K30.00 and K17.52 respectively. Kina Asset management Ltd (KAM) ended even at K1.10, followed by Marengo Mining Ltd (MMC) at 15 toea unchanged.

Wednesday’s trading recorded a total volume of 74,102 shares at a value of K258,887.69.

In overseas, U.S. stocks recorded solid gains in overnight trading, with the Dow Average surging 115.92 points or 0.71% at 16,373.86 points as strong retail sales data and earnings lifted stocks. In Asia today, stocks broadly advanced. Tokyo’s Nikkei stock average rebounded from a one month low on Wednesday as the Nikkei was up 386.33 points or 2.51% to finish high at 15,808.73 points following strong U.S. lead. Likewise, The Australian share market closed higher, in line with other regional advances. At the close, the benchmark S&P/ASX200 index gained 33.4 points or 0.6% at 5,245.43 points.

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