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KSi Daily Report: Wednesday, 2 October 2013

POMSoX session was stable on Wednesday amid moderate trading volumes registered for the day. The main index, the KSi, had marginal gains at 5,772.03 points, up 0.52 points. Meanwhile, the Kina Securities Home index or the KSHi remained flat at 8,232.56 points.

Only one stock gained compared to no other movement on the rest of stocks on local bourse.

Highlands Pacific Ltd (HIG), the junior exploration and mining company in PNG, recouped 1toea to complete at 21toea.

Other stocks that traded unchanged for the day included one mining stock, Oil Search Ltd (OSH) which remained strong at K15.71. The two financial-holding stocks listed on POMSoX, Bank South Pacific Ltd (BSP) was even at K8.04 and Credit Corporation Ltd (CCP) was unchanged at K2.60. New Britain Palm Oil Ltd (NBO) closed at K17.00 flat. Marengo Minig Ltd (MMC) and Kina Asset Management Ltd (KAM) ended at 21 toea and 97 Toea respectively, both unchanged.

Today’s trading registered a total volume of 180,528 shares at a value of K201,305.70.

In New York, stocks advanced overnight despite the confirmed partial shutdown of the federal government after a spending budget stand-off. The Dow Jones Industrial climbed 62.03 points or 0.41% closing at 15,191.70 points. Asian stocks were mixed while the Nikkei slumped 314.23 points or -2.17% ending at 14,170.50 points. The Australian stock market advanced 8.80 points (0.17%) ending at 5,215.60 points as investors hope that the partial shutdown of the United States government will be short-lived.

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