Hawaii stocks show gains
Advertiser Staff
Hawai'i stocks followed Wall Street's rally for the most part, with Central Pacific Financial charting a 33 percent gain.
Stock markets jumped after the Obama administration released plans to buy as much as $1 trillion of distressed assets. The Standard & Poor's 500 gained 7.1 percent to 822.92, the largest increase since Oct. 28, 2008.
The rally spurred gains in financial stocks, with Central Pacific rising $1.89 to $7.54 a share. Bank of Hawaii rose $3.11, or 9.6 percent, to $35.38.
Other Hawai'i stocks showing gains included:
Among local shares that lost ground were Alexander & Baldwin Inc., which late Friday released disappointing financial guidance for the quarter. Its shares fell 95 cents, or 4.7 percent, to $19.22.
Hoku Scientific also slipped, falling 4 cents, or 1.6 percent, to $2.47 a share.
