Both Kina Securities stock indices were unchanged for a third consecutive session on POMSoX Wednesday. The main index or KSi was unmoved at 5,289.15 likewise, the home index was at 11,037.68 flat at the close.
Bank South Pacific (BSP) traded flat at K9.50 for Wednesday’s trading session as the largest banking stock in terms of market capitalization in PNG was the only stock traded for the whole session recording a total of 1,191 units valued at K11,314.50.
In off-shore news, U.S. stock benchmarks finished lower, but off their intraday lows, on Tuesday, with Wall Street slumping in the face of uncertainty around efforts to overhaul tax policy and a downturn in crude-oil futures. The Dow Jones Industrial Average traded off 30.23 points, or 0.1%, to 23,409, but the blue-chip gauge had been down by as much as about 170 points on the session. Japan’s Nikkei share average dropped 351.69 points or 1.57% on Wednesday with most sectors in negative territory as investors took profit on a rally that pushed local stocks about 20 percent higher over the past two months. Meanwhile, Australian shares endured a fourth straight day of loses on Wednesday, dragged down by falls in the materials sectors on owner prices for oil and metals. The S&P/ASX 200 index fell 35.5 points or 0.58% to 5,934.20 points.