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The Honolulu Advertiser
Updated at 12:22 p.m., Monday, October 13, 2008

Local stocks jump as Wall Street posts record increase

Advertiser Staff

The historic surge in share prices on Wall Street wasn't lost on local stocks, which jumped as investors renewed their interest in the stock market.

All 11 issues in the Honolulu Advertiser-Bloomberg Hawai'i Index advanced on the day, led by Maui Land & Pineapple Co. and Barnwell Industries Inc. shares.

The local index climbed 9.8 percent on the day, partially recovering from last week's dive in which it fell 20 percent. The Standard & Poor's 500 Index had its steepest increase since 1939 and the Down Jones Industrial Average increased 936.42 points.

Among local stocks:

--Maui Land rose $3.71, or 24 percent, to $19.71.

--Barnwell jumped $1.21 in rising by one fifth to $7.20.

--Alexander & Baldwin advanced $2.70 as it charted a 7.2 percent to $40.20.

--Bank of Hawaii increased $2.69, a gain of 5.8 percent, to $48.65.

--Central Pacific Financial gained $1.75 to $13.56. That was a 14.8 percent increase.

--Hawaiian Holdings rose 12 percent, or 65 cents, to $5.91.

--Hawaiian Electric closed at $25.18 after rising $1.19, or about 5 percent.

The Hawai'i index rose by 6.96 points. It ended the day at 78.23.