KSi Daily Report: Wednesday, 29 January 2014

POMSoX trading session was stable amid light volume registered for the day. The main index, the KSi, advanced slightly at 3,872.99, up 3.10 points or 0.08%. Meanwhile, the Kina Securities Home index or the KSHi remained flat at 8,8210.38 points for third consecutive session for this week.

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

Highlands Pacific Ltd (HIG), a junior mine exploration company in PNG, collected 6 toea to complete at 21 toea.

Other stocks that traded unchanged for the day included one mining stock, Oil Search Ltd (OSH) which remained strong at K17.53, with a financial-holding stock Bank South Pacific Ltd (BSP) closed even at K7.98.

Today’s trading registered a total volume of 17,134 shares at a value of K61,659.70.

In markets abroad, U.S. stocks ended with the best gains in two weeks, as major indexes rebounded from heavy losses this week. The Dow Jones Industrial Average gained 90.68 points, or 0.6%, to 15,928.56, breaking a five-day losing streak on rising emerging markets, upbeat earnings from Pfizer Inc. and Ford Motor Co., and a rise in consumer confidence. Japan’s Nikkei share average jumped 403.75 points or 2.7% on Wednesday, after Turkey’s huge hike in interest rates eased worries in emerging markets and. The Australian benchmark S&P/ASX200 index rose 53.90 points or 1.04% to 5,229.00 points on Turkey’s bold action to support its currency.

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