Friday’s trading session saw the Kina Securities main index moved to positive territory on key mining stock. The KSi added a massive 216.62 points (+4.34%) to 5,203.17 points above the 5,000 point benchmark. Meanwhile the Kina Securities home index or KSHi was unmoved at 11,104.30 points at the close of market.
Today’s trading registered a gain versus nil losses.
Newcrest Mining Ltd (NCM), the largest market capitalization mining stock in PNG, made a huge jump at K54.00, up K4.00. The positive movement had the Kina Securities main index closing on green.
Meanwhile, Bank South Pacific Ltd (BSP) maintained its strong hold at K9.60.
Today’s session traded a total of 1,526 units valued at K45,463.20.
In overseas news, The US stock-market closed marginally lower on Thursday, led by a selloff in the financial and consumer discretionary sectors. Investors were also cautious as a potentially destructive Hurricane Irma headed toward Florida after battering a number of Caribbean islands. The Dow Jones Industrial Average fell 22.86 points, 0.1%, to 21,784.78 points. Japan’s Nikkei share average dipped near four-month lows on Friday while the was almost flat as investors held off buying on concerns North Korea could launch another missile test on its important national holiday over the weekend. The Nikkei fell 128.91 points or 0.66% to 19,267.61 points at close. The ASX slips at the end of a largely lacklustre week marked by worries about North Korea and Hurricane Irma but the Australian dollar shines. The Australian benchmark S&P/200 index was down by 23.10 points or 0.41% at 5,666.80 points.