Cash injection bolsters national markets

Sep 24th at 10:05

24-09-2013 10:05:43+07:00

Shares advanced for a third consecutive day in both cities yesterday, as investor confidence picked up from last week's gains and stronger liquidity.

Investors responded to the upward trend as liquidity improved after the market index hit a multiple-month low, said FPT Securities analyst. The return of cash flows reflected higher confidence in market prospects, he added.

The VN-Index added 0.4 per cent to end the day at 479.09 points.

The southern market saw 145 stocks advance, while 68 tumbled, 60 closed unchanged, and 33 were un-traded.

The VN30-Index, tracking the southern bourse's 30 largest stocks in terms of capitalisation and liquidity, also retreated 0.5 per cent to close at 540.25 points.

Market volume was down 45 per cent from last Friday to 46 million shares with fund certificates down 30 per cent at VND753 billion (US$35 million).

Foreign investors remained net buyers with 1.34 million shares. Hoa Phat Group (HPG) was the most active code with investors trading 161,900 shares.

PetroVietnam Transportation (PVT), the most active stock on a trade of 3.7 million shares, surged 6.5 per cent to end at VND8,200 per share.

PetroVietnam Finance (PVF), followed suit with 3 million shares changing hands, leaping 5 per cent to end the session at VND4,200 per share. The company will be de-listed tomorrow to be merged with Western Bank.

Tan Tao Investment – Industry Corporation (ITA) edged up 1.82 per cent to end at VND5,600 on a trade of 2.7 million shares, as the third most active on the HOSE.

At the close, 24 stocks were traded at the upper limit which was capped at 7 per cent by market regulators.

On the Ha Noi Stock Exchange, the benchmark HNX-Index also advanced for a third consecutive day, paring the loss this week, as investors bought stocks with good fundamentals amid growing confidence.

Investor confidence returned as market performance improved after the HNX-Index hit a four-month low last week and hovered at the low-level for a couple of weeks.

The HNX-Index, increased 0.77 per cent to end the day at 59.63. The northern bourse reached a trading volume of 21.1 million shares worth VND165.34 billion ($7.8 million).

The HNX 30 Index – comprising of the top 30 rose 1.23 per cent to end at 109.97 points.

Market breadth was positive on the northern exchange as 116 stocks rose, 61 tumbled, 47 closed unmoved, and 162 were un-traded.

Volume was down 70 per cent from last Friday to 21 million shares worth VND165 billion, decreasing by 65 per cent.

Sai Gon Ha Noi Bank (SHB), the most active one with 2.9 million shares traded, shipped 2.94 per cent to end at VND6,600 per share.

Sai Gon Thuong Tin Real Estate Joint Stock Company (SCR), coming second in liquidity with 2.3 million shares changed hands, leaping 2 per cent to settle at VND5,200 per share.

Vinaconex Group (VCG) jumped 8 per cent to end at VND8,100 per share on a trade of 2 million units – the third most active on the measure.

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