Both Kina Securities indices closed on a mixed note as stocks headed in opposite direction for Friday’s POMSoX trading session. The Main index or KSi was up by 1.00 points (-0.02%) at 5,256.76 points while the home index or KSHi finished at 10,938.20 points, declining 98.50 points (0.89%) below the 11,000 benchmark.
One stock gained compared to an equal number of loss.
Oil Search Ltd (OSH), the oil and gas stock, collected 4 toea to K17.55.
On the downside, Bank South Pacific Ltd (BSP) closed lower by 10 toea to K9.40, the stock’s negative movement weighed on the home index.
Today’s trading recorded a total of 4,721 shares valued at K53,831.41.
U.S. stocks ended Thursday firmly in the green, adding to a series of records on the back of hopes around reforms to the tax code that could deliver a further fillip to assets perceived as risky like stocks. The Dow Jones Industrial Average DJIA, +0.50% closed up about 114 points, or 0.5%, at 22,775.39 points. Japan’s Nikkei share average scaled a two-year peak on Friday, on track for a weekly gain, buoyed by the impact of a weaker currency as well as record highs on Wall Street. The Nikkei was up 0.3 percent at the end of morning trade at 20,679.18 points, after probing its highest levels since October 2015. Australian shares pushed 1% higher on Friday, with the strong performance cementing the first weekly gain for the ASX in three weeks. The Australian market for once joined in with other global equity markets and rallied hard on Friday, with the gains helping the index mark its first positive week in three. By the close of trading, the ASX had gained 58 points, or 1.04% to reach 5,710.70 points.