Both Kina Securities stock indices closed the week in negative territory. The Main index or KSi was down by a mere 0.12 points at 3,557.88 points likewise the Home index or KSHi fell 4.05 points (+0.04%) at 9,673.67 points today.
Friday’s session registered a gain versus an equal number of stock that lost.
Kina Asset Management Ltd (KAM) was up 1 toea at 98 toea.
Bank South Bank South Pacific Ltd (BSP), the largest banking and financial stock in terms of market capitalisation in PNG, closed at K7.44, down 1toea. Kina securities Ltd (KSL) was not traded. In ASX, it ended at $1.20, up 4c.
Credit Corporation Ltd (CCP) and Newcrest Mining Ltd (NCM) each completed at K2.40 and K25.00 unchanged respectively.
The day’s trading recorded a low volume of 3,766 shares valued at K14,464.30
The Dow Jones Industrial Average advanced posting 5th straight session of gains its longest winning streak this year. The Average closed up 138.46 or 0.82% to 17,050.75 points on extended low interest rate prospect. Japanese stocks extended gains as commodities and materials continued to rebound with expectations of interest rate near zero from the Feds. The Nikkei surged 262.87 points or 1.45% to 18,404.04 points. Australian shares continued to rally also on signs of a delay for a rate hike expected in the US. At the close on Friday, the benchmark S&P/ASX 200 index was 69.30 points or 1.33% higher at 5,279.70 points.