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KSi Daily Report: Wednesday, 15 June 2016

POMSOX trading on Wednesday was quiet amid a thin trading session. The Kina Securities main index KSi was maintained at 4,678.06 points and similarly the Kina Securities Home Index or KSHi was steady at 9,579.23 points.

Leading banking and financial stock in PNG in terms of market capitalization, Bank South Pacific Ltd (BSP) was the only stock traded for the day. The stock transacted a total of 5,000 shares valued at a monetary value of K40,000.00.

U.S stocks fell for a fourth session in a row in overnight trading marking the S&P 500 and the Dow’s longest losing since the market’s low in February. The Dow Jones Industrial Average gained 9 points or 0.05% to 17,581.00 points at the close. Japanese stocks rose in choppy trade, snapping a four-day losing streak as the Nikkei share average opened lower but headed higher to 15,985.87 points, up by 126.87 points or 0.80%. The Australian share market’s downward momentum continued following another weak close on Wall Street with energy, mining and banking all trading lower. The benchmark index S&P/ASX 200 closed lower at 5,147.10 points, down by 56.20 points or 1.08%.

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