POMSoX began the week on a quiet note, partly due to failure of trading server, with both Kina Securities indices closing in positive territory by close of market. The Main Index or KSi gained 1.55 points or 0.04% at 3,575.10 points and similarly the Home Index or KSHi collected 49.25 points or 0.52% to 9,579.21 points .
Bank South Pacific Ltd (BSP) was the only stock traded today as the largest banking and financial stock in PNG completed at K7.35, up 5 toea amid a total of 24,649 shares worth K108,600.80. Kina Securities Ltd (KSL) stayed at K2.60 untraded. In ASX, the share closed at $1.22, down 2c.
U.S. stocks got hammered last Friday, with The Dow DJIA, -1.74% suffering its second-worst Friday drop in 2015. The DJIA plunged by 290.16 points to 16,384.54 points fueled by worries about China’s sluggish economy. Japanese markets were closed today in observance of Respect for the Aged Day. The Australian shares also down, weaker on the back of US markets with the benchmark S&P/ASX200 index down 132.9 points, or 2.6% at 5,038.8 points by close of market today, led by broad selling in big four banks and resource companies.