POMSOX trading was active on Friday as both Kina Securities stock indices gained grounds. The main index, KSi was 3.10 points (+0.09%) higher to 3,489.73 points. The Kina Securities Home Index or KSHi was up 80.16 points (+0.85%) to 9,535.08 points.
Five stocks traded today with two gains compared to none that fell.
Bank South Pacific Ltd (BSP) closed 15toea higher to end at K7.50, followed by New Guinea Energy Ltd (NGE), up 1toea to close at 4toea.
City Pharmacy Ltd (CPL) and Highlands Pacific Ltd (HIG) traded unchanged at K1.33 and 20toea respectively. Oil Search Ltd (OSH) remained at K14.80. Kina Securities Ltd (KSL) was not traded and stayed at K2.60. On ASX, it was $1.12, down 0.5c.
Today’s trades recorded a total of 355,444 units valued at K70,350.52.
U.S stocks snapped a three-day winning streak, as oil prices dropped to their lowest levels in nearly seven years. The Dow Jones Industrial Average declined 253.25 points (-1.43%) to 17,495.84 points. Japan’s Nikkei shares generally fell on sliding oil prices and as investors awaited more market catalysts after the Fed’s interest rate hike. The Nikkei Index sliced 366.76 points (-366.76%) to 18,986.80 points. Australian stocks recouped morning losses following weak lead overnight from Wall Street as commodity prices resumed their downward slide. At the close, the benchmark index S&P/ASX 200 ended almost flat at 4.65 points (0.09%) to 5,106.66 points.