Blue chips lead City share rises
Blue chips lead City share rises
Shares rose steadily yesterday afternoon on the HCM City exchange, lifting the VN-Index 0.68 per cent to close at 491.85 points.
PV Gas (GAS) jumped 3.1 per cent to VND65,500 (US$3.12); dairy giant Vinamilk (VNM) rose 2.1 per cent to VND145,000 ($6.90); and property developer VinGroup (VIC) was up 1.6 per cent at VND63,000 ($3).
Sacombank (STB) attracted investor attention yesterday with a whopping 14.6 million shares traded at the ceiling price of VND18,200 ($0.87) a share, worth VND267 billion ($12.7 million). However, shares closed down at VND17,000 on the exchange.
Half of the 30 largest shares by market capitalisation and liquidity shed value, driving the VN30 down 0.42 per cent to 542.52 points.
Trading increased 20 per cent over the previous session, with the market value totalling nearly VND790 billion ($37.6 million) on a volume of 41.6 million shares.
An Duong Thao Dien Real Estate Trade Co (HAR) was the most active stock with 2.7 million shares changing hands, but fell 6.3 per cent to VND12,000.
On the Ha Noi Stock Exchange, the HNX-Index dropped 0.15 per cent to close at 61.49 points on lacklustre trading of 12.2 million shares worth VND99 billion ($4.7 million).
Newly-listed FIT Investment Co (FIT) continued to be the most active share on the Ha Noi bourse, with 1.6 million shares traded at VND13,000 a share.
Low liquidity was challenging investor patience and prompting them to sell shares at low prices, according to stock analysts at Viet Nam Investment Securities Co.
"However, this is also the time many investors are waiting to buy bargain stocks. When investors are pessimistic, the market usually rebounds," they wrote in a report.
The foreign sector returned as net sellers on the two exchanges yesterday, unloading shares worth a combined VND18 billion ($857,000).
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