Tuesday’s trading on POMSoX saw both Kina Securities stock indices landing on positive ground despite regional stocks sell-off. The main index KSi added 10.88 points (+0.32%) to 3,390.57 points, while the Kina Securities Home Index KSHi advanced 88.66 points, +0.93% to 9,589.73 points.
One stock gained compared to another that lost today.
Despite falls in global oil price and subsequently most regional mid-cap shares , the dual-listed oil and gas stock Oil Search Ltd (OSH) gained a toea to close high at K14.30. A bank stock Bank South Pacific Ltd (BSP) gained 9toea to end at K7.49 at the close.
Other stocks traded included junior cap miner Highlands Pacific Ltd (HIG) at 20toea, followed by gold miner stock Newcrest Mining Ltd (NCM) at K25.00 flat.
The day’s trading recorded a combined volume of 99,980 units at PGK value of K60,444.40.
In off-shores, U. S stocks eked out small gains after dipping in and out of negative territory as a deepening rout in oil prices hit the energy sector on the worst weekly start ever to a new year. The DJIA managed to upheld 52.12 points or 0.32% to 16,398.57. Japanese stocks retreated, falling to a 3-1/2 month low on Tuesday as tumbling oil prices spooked investors, dragging down the broader market. The Nikkei share average slumped 492.22 points or 2.78% to 17,205.74 points. Australian blue-chip shares closed slightly higher, despite many mid-to-junior cap stocks tumbled to new lows in recent months. The benchmark index S&P/ASX 200 fell 7.10 points or 0.14% to 4,925.13 points.