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KSi Daily Report: Wednesday, 17 May 2017

Kina Securities main index closed Wednesday’s POMSoX Session on a positive note. The KSi collected 53.79 points (+1.06%) at 4,366.97 points however the home index KSHi remained steady at 11,106.10 points.

One out of two stocks traded today closed higher.

The Wining stock for the day was PNG’s oil and gas producer, Oil Search Ltd (OSH) ending at K18.50, up by 50toea amid a better than expected trading volume.

Meanwhile, Credit Corporation Ltd (CCP) closed at K1.80 flat.

The day’s trading recorded a total of 13,242 shares valued at K220,357.80
In US Markets, The Dow industrials finished fractionally lower amid political uncertainty. The DJIA slipped 2.19 points, or less than 0.1%, to close at 20,979.75 points at close. Japanese stocks dropped on Wednesday after the dollar eased against the yen on weak U.S. economic data, while financial stocks underperformed hit by lower U.S. yields. The Nikkei shares average fell 0.5% to 19,814.88 points. The Australian share market saw its worst session in almost two months on Wednesday as major banks and retailers were hit hard in cautious trade. At the close the S&P/ASX 200 was 64 points, or 1.1 per cent, weaker for the session at 5786 points, marking the worst single-day loss since March 22 and the lowest level for the index since March 28.

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