POMSoX was quiet on the last trading day of April but both Kina Securities indices edged higher aided by financial stock. The Main Index or KSi gained 1.55 points (+0.04%) at 3,862.68 points. Likewise, the Home Index or the KSHi collected 49.25 points (+0.51%) at 9,799.91 points.
Only one stock gained today with no loss for the session.
PNG’s leading financial stock in terms of market capitalisation, Bank South Pacific Ltd (BSP) was only stock that gained, ending at K7.45, it went up 5 toea amid thin trading.
Meanwhile, Oil Search Ltd (OSH) and Credit Corporation Ltd (CCP) were the only other stocks traded for the day closing at K16.50 and K2.55 respectively.
Thursday’s trading recorded a low volume of 1,501 shares valued at K9,049.95.
U.S. stocks ended the overnight volatile session lower after the Federal Reserve left open the chance of an interest-rate hike as early as June, in a statement following its two-day policy meeting. The Dow Jones Industrial Average dropped 74.61 points, or 0.4%, to 18,035.53 points. The Japanese Nikkei share Average tumbled 591.47 points or 2.59% lower to 19,539.48 points on Thursday as traders locked in profits from recent gains, discouraged by weak U.S. growth figures, a retreat in overseas shares and disappointing earnings. Likewise, The Australian benchmark S&P/ASX200 index was 48.30 points or 0.83% lower at 5,790.30 points on the back of weak US economic growth and reduced expectations of a local interest rate cut are weighing on the Australian share market.