Low demand restrains the market

Low demand restrains the market

Stocks opened higher, but low demand pushed the indices below the neutral level towards the end of this morning.

On the HCM Stock Exchange, the VN-Index remained unchanged at 597.97 points, even though the top 30 shares by market value and liquidity inched up 0.07 per cent to end at 642.37 points.

Trading was low, as both the market volume and value were half of yesterday morning at 38.4 million shares and VND641.5 billion (US$30.4 million) respectively.

Thanks to positive business results in the second quarter, telecom equipment manufacturer Viet-Han Corp (VHG) became the most active code with 2.9 million shares being traded, rising 4.7 per cent to close at VND10,100 per share.

VHG posted a net profit of VND24.45 billion ($1.2 million) during the March to June period, more than five times the previous quarter's profit of VND4.3 billion ($205,000).

On the Ha Noi Stock Exchange, the HNX-Index lost another 0.28 per cent to close at 80.03 points.

Trading declined as the market volume was just a little more than 18 million shares, worth more than VND208 billion ($10 million).

Sai Gon Thuong Tin Real Estate Corp (SCR) was the most active stock here on the trading of nearly 3.7 million shares. But the share prices fell 3.3 per cent to end at VND8,700 per share.

The trading will resume at 1pm.

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