VN-Index hits four-year high
VN-Index hits four-year high
Shares in HCM City extended last Friday's gains during yesterday's session, as the VN-Index jumped 1.85 per cent to a four-year high of 553.67 points.
The trading value, despite declining 14.4 per cent over the previous session, remained high at VND1.97 trillion (US$92.9 million). About 105.7 million shares changed hands.
Even among the 30 largest stocks in terms of capitalisation and liquidity tracked by the VN30 Index, only seven lost ground.
Shares of insurer Bao Viet Holdings (BVH) and Sacombank (STB) hit their daily price increase limits. Shares of the private equity group Masan (MSN) hit the upper price limit during morning trade, but could not hold on to the gains; they finally finished the day, adding 3.7 per cent. Shares of 15 other companies also posted gains.
The index added 2.5 per cent to end at 620.69 points.
The market was buoyant after some companies announced upbeat financial results.
Steelmaker Hoa Phat (HPG), for instance, said it earned a VND2 trillion ($94.3 million) profit in 2013, 68 per cent higher than the company's target. The company's shares have surged 27 per cent this year.
In addition, rubber firm Casumina (CSM) announced a net profit of VND360 billion ($17 million), which was 42 per cent higher than 2012's figure, despite a fall in product prices.
Both HPG and CSM are blue chips tracked by the VN30 Index.
A securities market website, cafef.vn, also reported a number of listed companies announcing high earnings per share (EPS) ratios.
Meanwhile, on the Ha Noi Stock Exchange, the HNX-Index pared the gains made earlier to slide 0.4 per cent to 72.50 points.
The HNX30 Index lost 0.54 per cent, reaching 139.86 points.
The trading value and volume was VND779.6 billion ($36.7 million) and 56.9 million shares, respectively.
Foreign investors continued to be net buyers on both bourses, purchasing shares worth a net value of VND365 billion ($17.2 million).
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