Cash flow boosts local stocks

Jan 16th at 10:31

16-01-2014 10:31:51+07:00

Benchmark indices soared yesterday, showing improved liquidity on both national bourses.

On the HCM City Exchange, the VN-Index increased for the ninth straight day, finishing at 526.68 points, 0.48 per cent higher than Tuesday's trading.

Liquidity improved, with the total trading value reaching VND1.86 trillion (US$88.5 billion) on the exchange of 127.58 million shares. Cash flowed strongly into the market.

The VN30-Index, tracking the southern city's 30 largest shares by capitalisation and liquidity, edged up 0.43 per cent to 583.07 points.

Securities stocks were active yesterday and became the market stimulator. Sai Gon Securities (SSI) increased by VND987 ($0.047) per share yesterday to reach VND20,500 ($0.97). In terms of liquidity, SSI, with 7.2 million shares traded yesterday, only trailed behind Tan Tao Group (ITA), which had 23 million shares traded.

Other gainers included FPT Group (FPT), Hoa Phat Group (HPG), Hoa Sen Group (HSG), and Masan Group (MSN), as well as Vinamilk (VNM).

Although Da Nang Rubber Corporation (DRC), PetroVietnam General Services Corporation (PET), Kinh Do Group (KDC), and Southern Rubber Company (CSM) lost yesterday, blue chips remained the market supporter yesterday.

The news that Dang Nguyen Quynh Anh, daughter of chairman of Kinh Bac City (KBC) Dang Thanh Tam, had registered to buy 10 million KBC shares boosted the price of KBC to its ceiling price yesterday.

Overall, 117 codes on the southern bourse increased yesterday, while 83 codes lost.

On the Ha Noi Stock Exchange, transactions also boomed, where the HNX-Index jumped 1.4 per cent to 72.7 per cent.

The HNXFF-Index, comprising stocks with a minimum free float rate of 5 per cent, gained 1.23 per cent to reach 72.39 points.

The northern bourse's liquidity reached a new high yesterday, with 71.2 million shares changing hands for a total trading value of VND704 billion ($33.5 million).

Blue chips were active yesterday. The index of the 30 largest stocks—the HNX30-Index—strongly increased by 2.19 per cent yesterday to reach 140.93 points.

Viet Nam Investment Securities forecast the positive trend would continue thanks to foreign buyers and the early profit-takings of investors.

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