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The Honolulu Advertiser
Posted at 12:55 p.m., Tuesday, September 30, 2008

Hawaii stocks mixed as broader market rebounts

Advertiser Staff

Shares of Hawai'i's publicly traded companies were mixed today in contrast to the stock market, which jumped on expectations about renewed work on a credit-market rescue package.

Six stocks in the Honolulu Advertiser-Bloomberg Index of 11 local companies fell during the day, while four rose. One was unchanged as the index fell 2.8 percent to 92.50.

The decline compared with rallies in most major indexes nationally, which regained ground lost during yesterday's historic decline. The Dow Jones Industrial Average, which had fallen almost 778 points yesterday, surged 485.21 points, or 4.7 percent today.

Local decliners were led by Central Pacific Financial, which was off 9.1 percent to $16.81. Cyanotech Corp. slid 7.3 percent to $1.90.

On Monday the local stock index had declined less than broader market measures, falling only 2.9 percent compared to the Dow's 7 percent plunge.