Monday’s POMSOX trading session opened the week on a quiet note as both Kina Securities stock indices closed lower. The main index or KSi was 1.55 points or 0.05% lower at 3,349.74 points and likewise the Kina Securities Home Index, KSHi fell 49.25 points or 0.53% at 9,310.74 points.
The largest bank stock in market capitalization on POMSOX, Bank South Pacific Ltd (BSP), lost 5toea to close at K7.45 amid a light volume of 6,864 shares valued at K51,136.80. The fall weighed on both indices.
In overseas news, U.S stocks snapped their losing streak in overnight trading to post the largest daily gain this month, due in part to an improvement in January retail sales. The Dow Jones Industrial Average advanced 313.66 points or 2.00% to 15,973.84 points. Japanese stocks took off their cue from rallies in Europe and on Wall Street to rebound sharply on Monday, shrugging off data that showed Japan’s economy contracted more than expected I the final quarter of 2015. The Nikkei share average climbed 7.16% or 1,069.97 points to 16,022.58 points. The Australian share market kicked off the week strongly with gains in mining and financial companies, following strong leads from international markets on Friday. The benchmark S&P/ASX 200 index rose 78.12 points or 1.64% to 4,843.46 points.