The Kina Securities main Index recouped last week’s losses as one key stock recovered during POMSoX trading today. The KSi gained 25.27 points or 0.75% at 3,380.72 points while the home index or KSHi remained flat at 9,346.34 points by close of market.
Only one stock gained against none that fell.
Oil Search Ltd (OSH) was up by an impressive 25 toea at K14.30 following improving ASX prices amid a rebound in world oil prices.
Bank South Pacific Ltd (BSP) and Credit Corporation Ltd (CCP) traded unchanged at K7.50 and K2.05 respectively.
Monday’s session recorded a moderate volume of 20,925 units valued at K122,647.00.
Last Friday U.S. stocks posted their first weekly gain of the new year as oil futures rebounded for a second day and prospects of potential central-bank stimulus in Europe. The DJIA Index finished 210.83 points, or 1.3%, higher at 16,093.51, posting a 0.7% weekly gain. The Nikkei share average rose 152.38 points or 0.90% to 17,110.91 points in Japan as stocks rose on Monday after a sharp rebound in crude oil prices helped global market sentiment. The Australian share market has closed nearly 2% higher, posting gains for a third straight session, as a strong rise in oil prices lifted markets worldwide. By close of market Monday, the benchmark S&P/ASX200 index was up 90.6 points, or 1.84% at 5,006.6 points.