Stocks rise but trading remains sluggish
Stocks rise but trading remains sluggish
Shares rose this morning on both the stock exchanges, but trading remained sluggish over fears of a bull trap.
On the HCM Stock Exchange, the VN-Index jumped 1.3 per cent to reach 577.87 points, but the trading value was modest at just VND614 billion, or US$29.1 million.
The blue chips also gained value, with the VN30, which monitors the performance of the top 30 shares by market value and liquidity, rising by 0.9 per cent.
PV Gas (GAS) was among the biggest gainers, climbing 4.86 per cent to end at VND97,000, or $4.60, a share, while other large-cap stocks such as the Hoang Anh Gia Lai Group (HAG), the FPT Corp (FPT), the Hoa Phat Group (HPG) and the Ocean Group (OGC) increased from 0.4 to 3.6 per cent.
Six stocks saw trading in excess of 1 million shares, of which the real estate developer FLC Group (FLC) was the most active, with 2.6 million shares being traded at VND11,900 a share.
On the Ha Noi Stock Exchange, the HNX-Index also went up 0.74 per cent to end at 80.59 points.
More than 22 million shares, worth VND230.5 billion, or $10.9 million, were exchanged by the end of the morning.
The PetroVietnam Construction (PVX) was the most heavily-traded stock on the northern bourse, with 3.25 million shares changing hands at VND5,200 per share.
The trading will resume at 1pm.
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