VN-Index continues hot streak

May 30th at 14:00

30-05-2014 14:00:27+07:00

Shares on the HCM City Stock Exchange continued to advance for a fourth straight day, sending the market benchmark VN-Index to a three-week high.

Blue-chip stocks such as GAS, MSN and STB continued to prop up the markets.

The VN-Index added 0.2 per cent to end at 558.45 yesterday.

The market breadth was negative on the southern bourse where 72 stocks advanced, 160 tumbled, 46 closed unchanged, and 22 stocks were untraded.

However, the VN30-Index, which tracks the performance of the southern bourse's largest stocks by capilatisation and liquidity, climbed 1.49 per cent, to end at 614.88, despite losers dominating by 15 to 10.

FLC Group (FLC) had the most gains with a trade of 20.2 million shares, which closed unchanged at VND11,200 (53 US cents) per share.

This was followed by Tan Tao Investment-Industry Corporation (ITA). A total of 5.5 million shares changed hands, but they dived 3.6 per cent to finish at VND8,000 per share.

Hoang Quan Consulting Trading Service Real Estate Corporation (HQC), the most active share with a trade of 4.7 million units, slipped 4.2 per cent to finish at VND6,900 per share.

The blue chip which posted the gain were GAS and STB.

The Ha Noi Stock Exchange declined for the first time in five days, dragging the market benchmark HNX-Index down from a three-week high. Traders sold local shares to lock in assured profits. Many traders sold to take margins in a volatile day. The selling pressure intensified towards market closing.

The HNX-Index dropped 1.03 per cent, to end the day at 76.38 points.

The HNX 30 Index, which tracks the top 30 stocks based on free-float adjusted market capitalisation, also dipped 1.66 per cent to end at 153.62 points. The northern bourse had 70 gainers, 133 losers. Fifty six closed unmoved. Trading volume was little changed from a day earlier. A total of 65.8 million shares worth VND639 billion (US$30.4 million) were handled.

PetroVietnam Construction (PVX), was the most active share on the northern bourse. A total of 9.3 million shares changed hands to end at VND5,100 per share.

Sai Gon Thuong Tin Real Estate Joint Stock Company (SCR) was second in liquidity with seven million shares changing hands. They dived 2.3 per cent to settle at VND8,600 per share. Sai Gon Ha Noi Bank (SHB) shed 2.2 per cent to finish at VND9,100 on a trade of 6.7 million units – the third most active on this market.

Foreign investors concluded as net buyers on the southern bourse.

Their net buy values were VND121.3 billion ($5.7 million). In the northern market, foreigners were net sellers with sell value of VND1.8 billion ($85,310).

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