POMSOX trading opened the week on Monday in moderate activity but both Kina Securities stock indices closed in negative. The Home Index or KSi retreated 100.08 points or 2.81% to 3,457.80 points and likewise the Home Index KSHi fell 4.83 points or 0.05% lower to end at 9,668.84 points.
The weakness both indices was attributable to the two dual- listed stocks, Oil Search Ltd (OSH) and Kina Securities Ltd (KSL). The oiler Oil Search Ltd (OSH) fell 80toea to K15.00 while bank-owner Kina Securities Ltd (KSL) ended 10toea lower to end at K2.50 at the close. In ASX, KSL closed unchanged at $1.20
Other stocks traded included financial stocks Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) at K7.44 and K2.40 unchanged respectively.
Today’s trading recorded a total of 40,560 units with value of K164,345.80.
Last Friday US stocks ended higher as oil prices rose and investors continued to believe in the central bank in no hurry to raise rates. The Dow Jones Industrial Average rose 33.74 points or 0.02% to 17,084.49 points. Japanese stock market was closed today to observe the national sports day in Japan. The Australian share market closed nearly one per cent lower as investors took profits after big gains last week. The benchmark index S&P/ASX 200 declined 46.79 points or 0.89% to 5,232.90 points.