The Bloomberg / Star-Bulletin Index is a price-weighted index designed to measure the performance of Hawaii-based companies. The index was developed with a base value of 100 as of December 31, 1999. A chart of the index which shows the weekly performance of its members is published weekly in the Honolulu Star-Bulletin.

Kona biotechs lift

It was a big week for stocks at Kona's two nutritional supplement companies as Mera Pharmaceuticals Inc. jumped 52 percent and Cyanotech Corp. rose 19 percent to lead the Bloomberg Honolulu Star-Bulletin index.

Mera closed at an 18-month high of 3.8 cents after it received state approval to import genetically modified algae to test for the possible production of pharmaceutical drugs. Cyanotech closed near a three-month high of $1.15 after hitting $1.18 on Thursday.

Barnwell Industries Inc. gained 6.3 percent to $65.25.

SOURCE: BLOOMBERG NEWS
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