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The Honolulu Advertiser
Updated at 1:44 p.m., Friday, February 20, 2009

Hawaii stocks tumble as broader market tanks

Advertiser Staff

Five of Hawaii's nine publicly traded companies saw their shares fall to 52-week lows today as the broader market tumbled on investor fears that the recession will persist for at least the rest of the year.

Hawaiian Electric Industries Inc., which yesterday reported a sharp drop in fourth-quarter earnings, touched a 52-week low of $16.22 during the session. Shares closed down $1.41 at $16.28.

In other trading:

— Central Pacific Financial Corp. shares changed hands as low as $4.60 before closing at $4.69, down 69 cents.

— Shares of Bank of Hawaii Corp. hit a low of $30.01 before closing down 62 cents at $31.87.

— Alexander & Baldwin shares closed up 8 cents at $19.76 after hitting a 52-week low of $19.20 in midday trading.

— Shares of Hoku Scientific Inc. touched a low of $1.93 before edging back to close up 5 cents at $2.05.