Stocks climb on low liquidity
Stocks climb on low liquidity
Stocks advanced on both exchanges this morning, but trading was sluggish.
On the HCM Stock Exchange, the VN-Index added another 0.3 per cent to close the morning at 568.60 points.
Blue chips continued to be the momentum with the VN30 tracking the top 30 shares by market value and liquidity up 0.41 per cent at 611.11 points.
Trades declined sharply, however, as nearly 49 million shares, worth VND682 billion (US$32.3 million), were exchanged by the end of the morning, just two-thirds of yesterday's morning value.
FLC Group (FLC) was again the most active code on trades of 4.87 million shares, climbing 3.85 per cent at VND10,800 per share.
On the Ha Noi Stock Exchange, the HNX-Index also gained 0.47 per cent to stand at 75.30 points.
Almost 41 million shares worth VND287 billion ($13.6 million) changed hands, with PetroVietnam Construction Corp (PVX) being the most heavily traded stocks on trades of 21.6 million shares. The share price declined 2.3 per cent to VND4,300 per share.
PVX dropped to the floor price in the last two sessions following the information that the company will likely incur a loss of VND300–400 billion ($14–19 million) in the first half of this year and a possible loss of VND1 trillion ($47.4 million) for the whole year.
If this happens, PVX will have to leave the stock market as it has posted losses for three consecutive years.
Trading will resume at 1 pm.
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