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KSi Daily Update: Friday, 1 November 2013

POMSOX stocks trading was active on Friday as the Kina Securities indices gained ground aided by home stocks. The main index collected 1.77 points at 3,901.04 points. Likewise, the Kina Home Index, KSHi also recovered 30.09 points, finishing at 8,220.04 points.

One gain was registered on POMSOX against a loss.

Credit Corporation Limited (CCP) gained a toea higher as a result of the company’s buy back scheme,. The stock closed at K2.60.

Marengo Mining Limited (MMC) maintained at 20 toea, followed by City Pharmacy (CPL) unchanged at K1.90. New Guinea Islands Products (NGP) ended at 85 toea flat as New Britain Palm Oil (NBO) stayed at K15.00. Meanwhile, Oil Search Limited (OSH) ended at K16.08.

In New York, U.S Stocks dropped overnight with the Dow Jones Industrial Average down 73.01 points or 0.47% at 15,545.80 points as the Federal Reserve pare stimulus in coming months. Asian Stocks dropped as yen strengthened. The Japanese Nikkei closed at 14,199.90 points, down 126.37 points or -0.88%. Australian S&P/ASX200 declined 14.37 points (-0.26%) closing at 5,411.12.

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