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KSi Daily Report: Wednesday, 26 February 2014

Trading on POMSoX was active on Wednesday despite weaker Kina Securities indices for the second consecutive session. The main index or KSi fell 1.38 points or 0.04% at 3,612.94 points while the home index or KSHi lost 24.04 points or 0.67% to 8,058.33 points at the close today.

There was one stock that gained verses two were lost.

Kina Asset Management Ltd (KAM) was the sole winner which closed a toea higher at K1.10.

On the down side, City Pharmacy Ltd (CPL) gave up yesterday’s gain of 1 toea at K1.95, followed by Airlines PNG Ltd (CGA) recording its first trade for 2014 at 33 toea, down 2 toea. Credit Corporation Ltd (CCP) closed lower by 5 toea at K2.55 amid moderate trading volume.

Highlands Pacific Ltd (HIG) and Kina Petroleum Ltd (KPL) closed flat as both Junior cap miners completed at 20 toea and 90 toea respectively. Bank South Pacific Ltd (BSP) recorded a few trade at K7.90n flat while New Britain Palm Oil Ltd (NBO) was even at K14.50.

Wednesday trading recorded above-average volume of 206,505 shares valued at K363,427.03.

In the overseas markets, U.S. stocks finished a choppy trading session lower on Tuesday following weak economic reports. The Dow Jones Industrial Average declined 27.48 points, 0.17%, ending at 16,179.66 points. Asian markets were a touch higher on Wednesday, with stocks in China and Japan, reversing early small losses. Japan’s Nikkei share average shed 81 points, 0.54% at the close at 14,971 points. In the Australian sharemarket, the ASX/S&P200 closed higher at 3.15 points, 0.06% to 5,437.00 points when ASX closed.

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