Both Kina Securities stock indices were in the red by Monday’s close on POMSoX. The main index, the KSi slipped a marginal 0.83 points (-0.02%) to 3,555.24 points and likewise, the home index, the KSHi, closed 26.23 points or 0.27% lower to finish at 9,760.19 points.
One stock lost with no gain for the session.
The decline was attributable to the poor performance of City Pharmacy Ltd (CPL) at the close. The Pharmaceutical stock gave away 10 toea to complete at K1.50.
Stock that traded unchanged for the day included Bank South Pacific Ltd (BSP) which closed K7.40, followed by PNG’s largest oil and gas producer Oil Search ltd (OSH) remaining flat at K16.00 with an intraday high of K16.50.
Monday’s trades recorded a substantial volume of 105,468 shares at a monetary value of K1,153,183.20.
U.S. stocks ended Friday’s choppy session modestly lower, with The Dow Jones Industrial Average declining 53.72 points, or 0.3%, lower to 18,232.02 points and ended the week with a 0.2% loss. The Federal Reserve Chairwoman said she still expected the Central Bank to raise interest rates sometime this year. Japan’s Nikkei share average rose for a seventh day, hitting a fresh 15-year high on Monday amid brighter outlook of shareholders and strong corporate earnings. The Nikkei 225 gained 114.31 points or 0.56% to 20,378.72. Similarly, the Australian share market closed higher as investors return to high yield stocks, including the major banks. The benchmark S&P/ASX200 index was up 44.90 points or 0.79% to 5,709.60 points.