Shares experience mixed results

Dec 5th at 09:59

05-12-2013 09:59:48+07:00

The VN-Index on the HCM City Exchange shrank slightly yesterday, after successfully entering the resistance band of 510-513 points on Tuesday.

The benchmark index lost 0.14 per cent to 510.88 points on the exchange of 111.829 million shares and total trading volume touched VND1.489 trillion (US$70.9 million).

Also, liquidity eased yesterday, in comparison with Tuesday's trading session, as investors grew cautious about buying decisions.

Although blue chips gained from Hoa Sen Group (HSG), logistics company Gemadept (GMD) and Ocean Group (OGC) were 4.8 per cent, 3.8 per cent and 4.3 per cent higher, respectively, while the VN30-Index, tracking the southern city's top shares by capitalisation and liquidity, decreased 0.14 per cent to 570.91 points.

Nine other gainers in the blue chip group, including names such as Vietinbank (CTG), Infrastructure Development Corporation (IJC), Kinh Do (KDC), PetroVietnam Transportation Corporation (PVT) and REE Corporation (REE), each earned VND100 ($0.0049) to VND200 (0.0095) per share.

The drop of insurance Bao Viet Group (BVH), Masan Group (MSN), PetroVietnam Low Pressure Gas Distribution (PGD), Sacombank (STB), Vietcombank (VCB) and Vinamilk (VNM), along with six other blue chips, helped drag down the benchmark index yesterday.

Profit-taking occurred on speculative stocks which witnessed rapid increases recently, such as Mirae JSC (KMR) and Viet – Han Corporation (VHG).

Many stocks of securities gained yesterday, including HCM Securities (HCM), Beta Securities (BSI), Agribank Securities (ARG) and Sai Gon Securities (SSI).

However, shares advanced on the Ha Noi Stock Exchange yesterday.

The HNX-Index closed 0.74 per cent higher at 66.12 points and the newly-launched HNXFF-Index, which included stocks with minimum free-float rate of 5 per cent, closed at 66.19 points, 0.76 per cent higher.

The total trading volume hit VND471.638 billion ($22.45 million) on the exchange of 60.7 million shares.

The HNX30-Index, composed of the 30 largest shares of the northern bourse, jumped 1.19 per cent to 125.71 points.

According to FPT Securities, investors should put into consideration stocks that would benefit from the proposed increase in foreign rooms.

Viet Nam Investment Securities said that it became more difficult for investors to earn large profits, as expected at the moment, because price fluctuation amplitudes were narrowing.

The cash flow, however, could target mid-caps as the most profitable stocks, the company said.

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