The first trading day of October saw Kina Securities stock indices opened on weaker note amid a quiet trading session on POMSOX. The main index or the KSi was down by 19.19 points or 0.55% at 3,459.61 points, but the home index, KSHi remained unchanged at 9,729.59 points.
One stock lost as two other transacted flat today.
The only stock that was sold down was Oil Search Ltd (OSH) at K14.81, retreating 19toea following weaker prices on the ASX at $7.32.
Other stocks, Bank South Pacific Ltd (BSP) and Newcrest Mining Ltd (NCM), were flat at K7.50 and K25.00.
Today’s POMSOX session saw a total of 68,725 shares traded at a value of K526,980.27.
In a released announcement, Kina Group completed its acquisition of Maybank(PNG) and officially running the bank as Kina Bank today, after the successful capital raising of A$97 million via initial public offering completed in late July. On ASX, the stock closed at $1.14, +3c, while on POMSoX, K2.60 with no trade.
In overseas, U.S stocks rallied into the close Wednesday, driven by gains in consumer discretionary, materials and health-care sectors. However the main indexes still ended September quarter with steep losses. On the last trading day of September, DJIA rose 122.00 points or 0.75% to 16,294.00 points. Japanese stocks rose with gains on Wall Street with relief as China’s PMIs mostly met expectations. The Nikkei Index jumped 334.27 points or 1.92% to 17,722.42 points. The S&P/ASX 200 added 90.47 points or 1.80% to 5,112.10 points as Australian shares advanced after recent heavy falls.