Kina Securities stock indices closed mixed for the second consecutive session on POMSoX Wednesday. The Kina Securities Main Index or the KSi ended 48.47 points lower (-1.33%) at 3,606.81 points. Meanwhile, The Home Index or the KSHi collected 68.95 points (+0.71%) to close at 9,770.36 points.
A single stock headed north while another stock lost on POMSoX today.
Bank South Pacific Ltd (BSP), the largest banking and financial stock in PNG gained 7 toea at K7.42 on thin trading volume.
Meanwhile, Oil Search Ltd (OSH) relinquished yesterday’s gains by 50 toea to close back at K16.50 as the dual listed stock also fell on the ASX, trading further lower at $7.96, down 11 cents.
Stocks traded today however remained unchanged were City Pharmacy Ltd (CPL) which traded ex-dividend today and closed at K1.46 flat. Marengo Mining Ltd (MMC) ended at 4 toea even. MMC updated resources estimate for the Yandera project today to the market.
Wednesday’s session recorded a substantial volume of 99,639 units valued at K60,677.78.
In markets abroad, U.S. stocks closed sharply lower in overnight trading after release of trade-deficit report that indicated the nation’s trade gap hit its highest level in seven years as the West Coast port dispute ended. The Dow Jones Industrial Average tumbled 142.20 points, or 0.8%, to 17,928.20 points as Technology, biotechnology and small-cap stocks led losses. Japanese markets were still closed, in observance of The Constitution Memorial Day today. Meanwhile, Australian shares have had their largest sell off in a week as the Reserve Bank indicated Tuesday’s interest rate cut would be the last for now. By close of market today, the S&P/ASX200 index slumped 134.30 points or 2.30% to 5,6923.20 points following disappointing earnings updates on Commonwealth Bank and Woolworths