POMSoX suffered losses as three out of five stocks that traded fell after close of Friday’s session. The Kina Securities Stock Index KSi eased 6.99 points (-0.19%) to 3,74.75 points and the Home index KSHi dropped 124.56 points (-1.52%) to 8,079.46 points.
Oil Search Ltd (OSH) added 1toea to K19.14 and Bank South Pacific Ltd (BSP) moved higher after collecting 27 toea at K7.45 from support by the share buyback plan.
Meanwhile, Stocks that headed in the opposite direction were led by New Britain Palm Oil Ltd (NBO) lower by K1.50 at K16.00 and City Pharmacy (CPL), the pharmaceutical cum supermarket retailer in PNG, fell 11toea to K1.59. A junior Cap Miner Highlands Pacific Ltd (HIG) was down at 14toea by 1 toea. The negative effect on this three stocks weighted down on both indices despite the gains recorded.
Friday’s session registered a combined volume of 35,752 shares at a value at K115,141.09.
In New York, U.S stocks gained in overnight trading setting its 28th record close in 2014. The Dow Jones Industrial Average climbed 60.36 points or 0.36% to end at 17,039.49 points. Asian stocks broadly rose extending weekly gains after reports from U.S housing to manufacturing showed the strengthening of the largest economy. However, in Japan, the Nikkei share average shed 47 points or 0.30% to end at 15,539 points, while in Australia, the ASX shares rebounded following the lead from Wall Street as the benchmark S&P/ASX 200 index added 6.75 points or 0.12% 5,645.61 points today.