Wednesday’s session on POMSoX witnessed moderate gains for both Kina Securities Indices as some stocks went higher. The Kina Securities main index, the KSi, gained 4.35 points (0.09%) to end at 4,590.47 points, while the Home index or KSHi added 16.19 points (+0.17%) to 9,418.02 points, supported by a bank stock today.
Two stocks gained as compared to none that fell today for the session.
Bank South Pacific Ltd (BSP), the financial holding stock edged higher, backed by the share buyback program introduced last year. At K8.05, the stock closed 3toea higher.
Marengo Mining Ltd (MGO) recovered 5toea today to 40toea.
New Britain Palm Oil Ltd (NBO) closed steady at K24.00, followed by Newcrest Mining Ltd (NCM) that ended flat at K50.00. Another mining company, Oil Search Ltd (OSH) stayed unchanged at K13.06.
The day’s session recorded a thin volume of 20,005 shares valued at K80,987.00.
Overnight in the US, the Dow Average rose 51.09 points, or 0.39 percent, at 13,168.60 points on growing optimism the European Central Bank would act soon to contain the euro zone’s debt crisis. Asian stocks were mixed today. In Japan, the Nikkei closed up 0.9 percent to 8,881.16 points on new stimulus hope. Hong Kong stocks fell slightly as the Hang Seng index fell 0.21% to 20,030.50 points, just above the psychological level of 20,000 mark. Australian shares extended gains, led by banks and resources as the benchmark S&P/ASX200 index advanced 21 points or 0.50% to 4,312.60 0.50% on expectations Europe can revive its economy.