The Kina Securities Indices ended mixed despite huge advance for BSP on POMSoX Thursday. The main index KSi slipped 37.82 points or 1.01% to 3,712.88 points while the home index KSHi closed 319.42 points (3.50%) higher to 9,448.71 points.
One stock fell compared to another stock that gained today.
Bank South Pacific Ltd (BSP) advanced 60 toea to end at K7.10 in sizable trading volume of 2,156,320 units at a monetary value of K15,400,432.23 today, helping KSHi to higher level just shy of 10,000th point-mark.
But Oil Search Ltd (OSH), another heavy-weight capitalization stock headed in the opposite direction, down 64 toea to K18.51 as the same dual-listed edged much lower on ASX. The stock fell almost 5% in last two trading session.
A junior cap miner Marengo Mining Ltd (MMC) closed at 7 toea flat, followed by Highlands Pacific Ltd (HIG) and Credit Corporation Ltd (CCP) ending at 15 toea and K2.60 respectively.
Thursday’s trading recorded a total volume of 2,219,817 units at a value of K15,400,432.23.
In a special announcement, Kina Asset Management Ltd (KAM) – a related company to the owner of this report – proposes Monian Limited, the largest shareholder of the company, be approved to increase its shareholding to 25% of the total ordinary shares on issue in a Special General Meeting to be held on Thursday, the 27th day of November 2014 at 10.00AM for a partial takeover of the Company.
In overseas, U.S stocks eked out record closes ending on a mixed note after five straight record sessions in NYSE as major indexes hovered near record levels. The Dow Jones Industrial Average shed 2.70 points to close at 17,612.20 points. Japanese stocks rose after investors lapped up media reports on the postponing of planned sales tax hike. The Nikkei share average closed 196 points or 1.14% higher to 17,393 points. Australian stock market was sharply lower, as he benchmark S&P/ASX200 declined 74.40 points or 1.35% at 5,442.70 points, pulled back by weakness among big banks and major miners.