Shares climb but trades slip again
HA NOI (VNS)— The VN-Index on the HCM City Stock Exchange continued to climb yesterday, boosted by the gains of large-cap shares, but overall trading remained sluggish.
The VN-Index added another 0.86 per cent to close yesterday's session at 395.12 points, but the value of trades fell another 12 per cent from Tuesday's level to just VND390.5 billion (US$18.6 million).
Large-cap shares again hauled up the market, led by property developer VinGroup (VIC), insurer Bao Viet Holdings (BVH) and dairy giant Vinamilk (VNM) who all rose between 2.7-3.8 per cent.
But slumps for Eximbank (EIB), food producer Masan Group (MSN) and Sacombank had pegged the market rise back by the end of yesterday's session.
The VN30 measuring performance of the top 30 shares was up 0.81 per cent to 460.23 points.
Shares of Tan Tao Investment Industry Corp (ITA) were still the most active by the end of the session with 1.8 million exchanged as ITA closed up 4.6 per cent at VND4,600 a share.
Investment funds will have to conclude their net asset values in the next two sessions, while securities companies are also required to implement funds to protect against risks. Many stock analysts believe this to be the driving force of recent blue chip rises, predicting it will help sustain the market in coming sessions.
On the Ha Noi Stock Exchange, the HNX-Index edged up just 0.12 per cent to end yesterday at 56.29 points with a total value of VND149.7 billion ($7.1 million).
PetroVietnam Construction (PVX) remained the most active code in the Ha Noi market with 4 million shares traded, hitting its ceiling price of VND4,800 a share.
Foreign investors concluded yesterday as net sellers in HCM City's market, offloading VND15.6 billion ($743,000) worth of shares, but they bought big on the Ha Noi bourse, picking up nearly VND12.6 billion ($600,000) worth. — VNS