POMSOX trading settled quiet amid moderate volume, adding some gains. The Kina Securities Main index KSi rose 0.57 points or 0.02% to 3,592.25 points. Meanwhile the Home Index KSHi remained unchanged at 9,575.98 points.
Two out of five stocks gained compared to none that lost for the day.
Junior cap mining exploration stock Highlands Pacific Ltd (HIG) closed a toea higher at 15toea. Oil Search Ltd (OSH) traded at K17.00, up by K1.00. The stock’s ASX performance had attributing effects on the local POMSOX market today.
Portfolio management stock Kina Asset Management Ltd (KAM) closed at K1.00 even. Bank South Pacific Ltd and big miner Newcrest Mining Ltd (NCM) ended at K7.35 and K24.00 flat respectively.
The day’s trading session recorded a combined volume of 8,748 shares valued at K87,503.90.
In markets abroad, U.S. stocks produced a big rally into the close ending Monday’s turbulent trading with solid gains. The Dow Jones Industrial Average surged 196.09 points or 1.14% to 17,361.04 points. Japanese stocks on weak U.S data sentiments as the Nikkei share average sliced 222.19 points (-1.27%) to 17,335.85 points. Australia’s central bank cut its rates to records lo, trading strongly after the RBA cut rates to a new record low of 2.25 per cent and closed to a near seven-year high. The S&P/ASX 200 rose 82.10 points (1.46%) to 5,707.40 points as sectors performed positively.