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KSi Daily Report: Wednesday, 27 August 2014

Kina Securities Indices closed high after POMSOX resumed trading from Repentance holiday. The main Index KSi gained 2.08 points or 0.06% to 3,742.14 points and the Home Index KSHi closed at 8,076.49, up 36.16 points or 0.45%.
One stock gained against another stock that fell, accompanied with a debenture note.
Credit Corporation Ltd (CCP), a leading financial institution in PNG, collected 10toea to close at K2.70, aided by the company’s share buyback scheme. The gain lifted both indices to positive.
Stocks that traded unchanged for the day were led by oil and gas stock Oil Search Ltd (OSH) at K19.15, followed by the only bank stock Bank South Pacific Ltd (BSP) at K7.45 even amid ongoing share buyback plan. BSP announced today the half year results has achieved a consolidated operating profit of K369.3 million, an increase of 31.3% for the same period last year and also declared an interim dividend of 20 toea per share to be payable in October.
BSP Unsecured notes (BSPHA) also recorded a few trade at K26,000.00, up K1,000.00.
Total volume registered today was 24,368 units at a share value of K365,903.10.
U.S. stocks edged higher in overnight trading with the Dow Jones Industrial Average advancing by 29.83 points or 0.2%, to end at 17,106.70 points on higher consumer confidence figures. Japan’s Nikkei share average edged up on Wednesday following after U.S. shares extended their gains. The Nikkei rose 5.50 points or 0.04% to 15,520.70 points as investors held back on the weak yen. Australian stocks generally rose despite falling iron ore prices. The benchmark S&P/ASX200 index was up 13.60 points, or 0.24% at 5,651.20 points led by major miners by close of market today.

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