KSi ends up, driven by rise in share prices
Port Moresby Stock Exchange KSi index closed trading at a record high of 5,997.14 pointed last Thursday.
The Kina Securities Index (KSi) closed on the record high driven largely by increases in share prices of some of its listed companies.
“When trading closed on the Port Moresby Stock Exchange (POMSoX) today (Thursday), the Kina Securities Index (KSi) recorded a new high of 5,997.14 points driven by the share price of New Britain Palm Oil, Oil Search, Credit Corp, Ramu Sugar and Lihir Gold,” Kina Securities chief executive Syd Yates said.
“The KSi rose by 165.64 points from yesterday (Wednesday)’s trade, which is an increase of 2.84%, to close at a new record high and a market capitalization of K38.178 billion.”
Mr Yates said this is the 4th year running that the local bourse has delivered a double digit return, placing it amongst the best performing markets in the world.
“The KSi at 5,997.14 is our new record high in the history of the stock exchange, and today’s trading results is a testimony to the confidence and growth in the locally listed stocks.
He said last Wednesday’s result showed an increase 5.95% since the start of trade this year, when the KSi closed at 5,660.52 on December 31st, 2007.
“New Britain Palm Oil Ltd’s share today rose K3, or 13.04%, to close at K23 a share to give the company a market capitalisation of K3.120 billion.
“Oil Search Ltd share rose K0.45 or 5.26%, to close at a record high of K10 a share, recording a market capitalisation of K11.930 billion for the company.
“Since Credit Corp Ltd shares rose by 10.29%, or K0.28, to close at K3 a share, with a market capitalisation of K0.920 billion for the company.” CPL is a major shareholder of BSP.
“Ramu Sugar Ltd rose K0.03, or 0.73%, to close at a high of K4.13 a share to give the company a market capitalisation of K0.97 billion,” Mr Yates said.
“Lihir Gold Ltd LGL shares rose by 0.12% or K0.01 to close at K8.01 a share, with a market capitalisation of K15.246 billion for the company.
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Code Notes TT
US$ 0.3430 0.3800
A$ 0.3677 0.4127
Pound 0.1721 0.1821
Euro 0.2241 0.2391
Sing$ 0.4780 0.4991
Peso 13.93 14.31