On Tuesday, POMSoX’s close saw both Kina Securities Indices end mixed for second consecutive session amid higher than average trading volumes. The main index the KSi advanced 6.14 points (+0.16%) at 3,919.26 points while the Kina Securities Home index or the KSHi dropped 60.75 points (-0.73%) to 8,232.56 points.
POMSoX registered three gains against one stock that lost for today.
Oil Search Ltd (OSH), PNG’s largest oil & gas producer, contributed the most to the indices as the stock climbed by 11 Toea to K15.71 today. Followed closely, Credit Corporation Ltd (CCP) recouped 10 toea to K2.60 aided by the share buyback plan and City Pharmacy Limited ended at the record peak at K1.90, up 3 toea.
The considerable fall in the home index was solely caused by the frail performance of the New Britain Palm Ltd (NBO) as the heavily weighted agricultural stock retreated by K1.00 to K15.00.
Stocks unchanged for the day were led by the miners, Marengo Mining Ltd (MMC), and Kina Petroleum Ltd (KPL) which stayed at 21 toea and 90 toea respectively. MMC today releases a report that the company’s net loss for the year 2013 ending June is US$8.03 million. Kina Asset Management Ltd (KAM) was unchanged at 97 toea as the stock recorded a substantial traded volume of 355,983 shares worth a kina value of K345,304.00 today. Bank South Pacific Limited (BSP) remained at K8.04 flat despite the report of 2013 half-year profit of K204.5 million or 43.7 Toea per share.
The day’s session registered a considerable volume of 411,054 shares at a valued at K686,793.72.
In overseas, New York Stocks ended lower in trading overnight as concerns over a possible partial government shutdown weighed down sentiment. The Dow Jones Industrial Average ended the day (-0.84%) lower at 15,129.67. At this hour of writing report, the partial shutdown of the U.S. government for the first time in 17 years has been confirmed. However, Asian stocks generally mixed, after Japanese Prime Minister Abe said the nation will raise its sales tax as planned. The Nikkei added 29 points to 14,484.70 while HK Hang Seng fell 1.50% to 22,859.90 points. In Australia, the S&P/ASX200 sliced off 12.08 points or 0.23% to 5,206.80, as further retreats by major resource sector after the Reserve Bank decided to keep the cash rate steady again today.