The Kina Securities stock indices were mixed on Wednesday with a few stocks traded on POMSoX. The main index, the KSi, shed 50.02 points (-1.39%) to 3,556.69 points. However, the Kina Securities home index or the KSHi added 19.70 points (+0.20%), to end the day higher at 9,806.12 points.
One stock gained compared to an equal number of loss.
The advance on the home index was attributable to Bank South Pacific Ltd (BSP), PNG’s leading financial stock in terms of market capitalisation which collected 2toea to close K7.42
The only stock that was sold down was Oil Search Ltd (OSH), at K16.00, down 50toea following weaker prices on the ASX at $7.27 which closed 2 cents lower.
Credit Corporation Ltd (CCP) was the only traded but remained unchanged stock for the session closing at K2.55 flat.
The day’s trading recorded a low volume of 3,352 shares valued at K23,219.34.
In New York, The Dow industrials eked out a small gain to finish at a fresh record amid falling oil prices which weighed on energy stocks. The Dow Jones Industrial Average added 13.51 points (+0.1%) to 18,312.39 points scoring its second consecutive record close. In japan, the Nikkei average extended gains, rising 170.18 points (+0.85%) at 20,196.50 points and hitting a fresh 15-year high following better-than-expected Japanese gross domestic product data for the January-March quarter. Meanwhile, the Australian share market was down again today with a sharp fall in iron ore prices dragging on the big miners. At close of market today, the benchmark S&P/ASX200 index was down 4 points (-0.07%) at 5,611.50 points.