In local PNG markets, both stock market indices dipped on Wednesday’s POMSOX trading session. The Kina Securities main index KSi was down 3.30 points or 0.06%, finishing lower at 5, 448.57 followed by the Kina Securities Home Index KSHi which declined 98.50 points or 0.89% to end at 10,197.38 points.
Leading stock in terms of market capitalization, Bank South Pacific Ltd (BSP) was down by 10toea to close at K9.50.
Meanwhile, Oil Search Ltd (OSH) was maintained at K17.84.
The day’s trading transacted a volume of 10,732 shares valued K106, 958.00.
U.S stock market indexes closed lower driver by losses in utilities telecoms and industrial sectors as the Dow Jones Industrial Average slipped 53.00 points or 0.22% to end at 24, 122.00 points. Japan’s Nikkei share average dropped falling below its 25 –day moving average almost for the first time since September as materials, shippers and other cyclical shares came under pressure. The Nikkei slumped 427.02 points or 1.89% to close at 22, 195.36 points. The ASX stumbled with miners selling off after a plunge in the copper price depressed sentiment around the sector. The benchmark S&P/ASX 200 index declined 25 points or 0.4% to end the session at 5, 946 points.