Friday’s trading session on POMSOX was quiet as only one stock, a leading oil and gas company Oil Search Ltd (OSH) traded but it closed in positive. The Kina Securities main index KSi thus gained ground by 50.64 points or 1.33% to 3,861.04 points. Meanwhile the Kina Securities Home Index KSHi was unchanged at 9,748.03 points.
The stock traded at K16.50, up by 50toea following ASX’s price gains today, on rumor that it might be a possible target by InterOil, another oil-based exploration company in PNG . The dual – listed stock on ASX closed at $8.30, up 21 cents.
The day’s trading registered 540 units in total at a share value of K8,640.00
In the overseas markets, U.S stocks ended higher on Thursday after a choppy trading session that saw the NASDAQ close at its highest level ever, while the S&P/500 was lead on to a record close. Dow Jones Industrial Average rose 20.42 points or 0.11% to 18,058.69 points. Japan’s Nikkei average fell snapping a three-day winning streak as investors as investors took profits. The Nikkei benchmark index slumped 167.61 points or 0.83% to 20,020.04 points. Australian share market also closed higher with gains across all sectors , particularly energy-related shares outperformed on a rise in crude oil prices. The benchmark index S&P/ASX 200 added 77.93 points or 1.33% to 5,922.70 points.