13 Oct – 17 Oct, 2025
Welcome to this week’s JMP Report,
- Last week saw 4 stocks actively traded on PNGX with a total trading value of K3,533,593.84.
- BSP traded 11,026 shares steady again at 23.55. Market remains relatively stable.
- KSL traded 249,259 shares closing 1t higher at K3.85. Market for KSL been trading between K3.80-K3.85 in the last 4 trading weeks.
- STO managed to trade 107,726 shares at K20.00. Closing K1.00 lower from its previous close of K21.00
- Lastly, CPL traded 238,391 shares changing hands lower by 25t at K0.45. Previous close was at K0.65.
WEEKLY MARKET REPORT | 13 October, 2025 – 17 October, 2025
| STOCK | WEEKLY VOLUME |
CLOSING PRICE | VALUE | BID | OFFER | CHANGE | % CHANGE |
| BSP | 11,026 | 23.55 | 259,663 | 23.55 | 24.20 | – | – |
| KSL | 249,259 | 3.85 | 957,864 | 3.80 | 3.85 | 0.01 | 0.26% |
| STO | 107,726 | 20.00 | 2,208,791 | – | – | (1.00) | (4.76%) |
| NEM | – | 181.00 | – | – | – | – | – |
| KAM | – | 1.88 | – | 1.88 | – | – | – |
| NGP | – | 1.35 | – | 1.35 | – | – | – |
| CCP | – | 4.65 | – | 3.20 | 4.65 | – | – |
| CPL | 238,391 | 0.40 | 107,276 | 0.45 | 0.60 | (0.25) | (35.71%) |
| SST | – | 50.00 | – | – | 50.00 | – | – |
| 606,402 | TOTAL | 3,533,594 | (3.89%) |
Key takeaways:
-
BSP in the last 4 trading weeks has shown price stability at K23.55 since the announcement from NEC to instruct the Department of Finance, the Department of Treasury, the Department of National Planning and Monitoring and other departments including State-Owned Enterprises to transfer accounts from commercial banks to the newly established government-owned National Banking Corporation Limited.
-
STO has shown signs of price volatility in the last 4 trading weeks since the collapse of the XRG-STO transaction and drop in Global oil prices due to the conflicts in the Middle East. The STO:ASX has dropped significantly from $7.65 to $6.17 (MTD), noting a 22% percent drop in price.
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Market Announcement: STO – Resignation of Chief Financial Officer Download >>
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Market Announcement: KAM – KAML Dividend Announcement. The Board of Kina Asset Management Ltd (Board) has today declared a record interim dividend for 2025 of 25t/share. Download >>
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CCP – Appointment of New Director John Velegrinis Download >>
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Market Announcement: STO – Santos Third Quarter Report Download >>
WEEKLY MARKET REPORT | 13 October, 2025 – 17 October, 2025
| STOCK | NUMBER ISSUED OF SHARES |
MARKET CAP |
2023 INTERIM DIV | 2023 FINAL DIV | 2024 INTERIM DIV | 2024 FINAL DIV | 2025 INTERIM DIV | YIELD % LTM |
| BSP | 467,219,979 | 11,003,030,505 | K0.370 | K1.060 | K1.210 | K1.210 | K0.500 | 7.26% |
| KSL | 287,949,279 | 1,105,725,231 | K0.100 | K0.160 | K0.106 | K1.155 | K0.126 | 7.32% |
| STO | 3,247,772,961 | 64,955,459,220 | K0.310 | K0.660 | k0.506 | K0.414 | K0.559 | 4.87% |
| NEM* | – | – | – | – | – | – | – | – |
| KAM | 50,693,986 | 93,304,694 | K0.120 | – | – | – | K0.250 | 23.94% |
| NGP | 45,890,700 | 61,952,445 | K0.030 | – | K0.120 | K0.120 | K0.040 | 11.85% |
| CCP | 307,931,332 | 1,431,880,694 | K0.110 | K0.130 | K0.121 | K0.121 | K0.121 | 5.20% |
| CPL | 206,277,911 | 82,511,164 | K0.050 | – | – | – | – | – |
| SST | 31,008,237 | 1,550,411,850 | K0.350 | K0.600 | K0.300 | K0.300 | K0.400 | 1.40% |
| TOTAL | 80,286,275,804 | 5.19% |
a LTM = Last Twelve Months. We have calculated yields based on most recently declared
interim and final dividends.
* NEM pays quarterly dividends. We have added last 4 payments at current FX rates.
Dividend yield – is calculated by dividing a company’s annual dividends per share by its current share price and expressing the result as a percentage.
Domestic Markets Department – Money Markets Operations Unit
Auction Number: 08-oct-25 / GOI / Government Treasury Bill
Settlement Date: 10-Oct-25
Amount on Offer: K270.440 million
|
TERMS |
ISSUE ID |
ISSUE ID |
ISSUE ID |
ISSUE ID |
ISSUE ID |
TOTAL |
|
Weighted Average Yield |
0.000 |
0.00% |
7.65% |
7.68% |
7.72% |
|
|
Amount on offer Kina Million |
0.000 |
0.000 |
5.000 |
10.000 |
236.900 |
259.900 |
|
Bids Received Kina Million |
0.00 |
0.000 |
16.00 |
52.660 |
295.300 |
363.960 |
|
Successful Bids Kina Million |
0.00 |
0.000 |
0.00 |
34.660 |
208.000 |
252.660 |
|
Overall Auction OVER-SUBSCRIBED by |
0.00 |
0.000 |
11.00 |
42.660 |
58.400 |
112.060 |
What we have been reading
WHY ASSET ALLOCATION?
By: Rob Crookston, Strategist, Bell Potter – Monthly Bell Oct 2025
Why asset allocation is the primary driver of success
The outsized influence of asset allocation stems from three fundamental investment principles:
1.Portfolio optimization and the relationship between risk and return,
2. The power of diversification, and
3. The importance of disciplined, unemotional decision-making.
Optimizing portfolios
To achieve higher potential returns, one must be willing to accept greater risk, typically in the form of volatility. Risk is inherent in investing, with theory suggesting investors who take on additional risk should be compensated with greater returns. Rational investors seek to maximize return relative to risk.
A strategic asset allocation allows an investor to choose the point on this risk spectrum, via a mix of these asset classes, that best suits their personal situation. Looking at historical asset class returns over the last 10 years, we generally observe a positive relationship between risk and return, which is what we would expect given the trade-off. While an investment in equities companies would have generated the highest level of return over the last 10 years, investors would have exposed themselves to significant volatility during downturns. This does not imply that investors should avoid high-risk, high-return asset classes. Instead, this exposure should be managed by diversifying allocations across various asset classes, as part of our strategic asset allocation (SAA).
No one has a crystal ball to predict which asset class will be the top performer in any given year. An asset class that is at the top one year could be at the bottom the next. To protect capital across market cycles, investors should diversify. Allocating to a mix of assets that are not correlated, investors can build a portfolio that is more resilient across the entire business cycle. For example, bonds have historically proven effective at offsetting the volatility of equities during periods of market stress, acting as a crucial stabilizer as seen in the initial COVID shock in 2020.
Human emotions are often an investor’s worst enemy. The “investor’s emotional rollercoaster” describes the cycle of euphoria at market peaks and panic at market troughs. Without a plan, investors are susceptible to making poor decisions at the worst possible times—selling in a panic after a crash (locking in losses) or buying into a frenzy at the top (exposing themselves to a potential correction).
A disciplined asset allocation strategy provides a logical, pre-determined framework. By setting your strategic mix and sticking to it, you create a powerful defense against these behavioral biases, helping investors to remain focused on their long-term goals instead of reacting to short-term market noise.
Regards,
JMP Securities Team
JMP Securities
a. Level 3, ADF Haus, Musgrave St., Port Moresby NCD Papua New Guinea
p. PO Box 2064, Port Moresby NCD Papua New Guinea
Email: lars.mortensen@jmpmarkets.com
Ph: +675 7200 2233
Mobile: +675 7056 5124
Email: nathan.chang@jmpmarkets.com
Ph: +675 7167 3223
Mobile: +61 422 113 630