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VietNamNews

Strong blue chips lift leading indices

Update: January, 11/2012 - 09:14

 

Investors monitor the electronic board at the offices of Rong Viet Securities Co in HCM City. Benchmark indices posted gains on both national stock exchanges yesterday. — VNA/VNS Photo Pham Hau
HA NOI — Stocks advanced steadily yesterday, with benchmark indices posting gains on both national stock exchanges.

On the HCM City Stock Exchange, the VN-Index closed at 344.68 points, a gain of 1.58 per cent over Monday's session. The value of trades declined by a whopping 81 per cent from Monday, however, reaching just VND500 billion (US$23.8 million) on a volume of 36.5 million shares.

Advancers overwhelmed decliners by 168-48, with 73 codes hitting their ceiling prices.

Blue chips continued to perform well. Of the 10 leading shares by capitalisation, Bao Viet Holdings (BVH) soared after four consecutive falling sessions and seven others posted gains. Only real estate developer Vincom (VIC) and Vinamilk (VNM) closed unchanged.

Sacombank (STB) continued to be the most-active share in HCM City with nearly 2.8 million changing hands. STB gained 3.6 per cent to close at VND17,400 per share.

However, the market still lacked news or data which would support a sustained uptrend, cautioned Ha Noi-based independent analyst Pham Viet Hung. The number of losing stocks continued to be high, he noted, and the value of transactions through order matching remained low due to investor caution.

"But," he added, "the market rising for a second day with a stronger pace could help buoy investor psychology."

On the Ha Noi Stock Exchange, rebounds of speculative shares such as VNDirect Securities (VND) and Kim Long Securities (KLS) helped boost the HNX-Index to a close of 56.15 points, a gain on the day of 1.59 per cent. Market value soared by over 61 per cent to nearly VND255.4 billion ($12.2 million) as more than 28.2 million shares were traded.

Advancers edged decliners by four-to-one overall, while KLS was the most-active stock on a volume of 2.35 million.

Foreign investors concluded yesterday as net sellers in HCM City, unloading VND36.2 billion ($1.7 million) worth of shares, while they were net buyers of just VND783 million ($37,000) worth of shares in Ha Noi. — VNS

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