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VietNamNews

Market value, volume rebound

Update: February, 08/2012 - 09:02

 

Stocks recouped Monday's losses across the nation yesterday on improved trading volume and value.
HA NOI — Stocks recouped Monday's losses across the nation yesterday on improved trading volume and value.

On the HCM Stock Exchange, the benchmark VN-Index finished at 401.08 points, an increase of 0.34 per cent from the previous session. Market value grew 24.4 per cent to reach VND531.4 billion (US$25.3 million), while the volume of trades rose over 12 per cent to 37 million shares.

The VN-30 Index, which tracks the movements of the 30 leading shares by market capitalisation and liquidity, also rose 0.41 per cent to close at 449.31. Trading value on those 30 stocks, accounting for 57 per cent of total market value on the HCM City bourse, totalled over VND302 billion ($14.4 million).

Insurer Bao Viet Holdings (BVH) and Vietinbank (CTG) hit their ceiling prices, but food producer Masan Group (MSN), property developers Vincom (VIC) and Hoang Anh Gia Lai (HAG), and steelmaker Hoa Phat Group (HPG) lost from 0.5-2.1 per cent.

Other heavyweight codes Sacombank (ST), Vinamilk (VNM) and Eximbank (EIB) closed unchanged, of which the latter was the most active with 4.24 million shares changing hands.

On the Ha Noi Stock Exchange, the HNX-Index climbed 1.69 per cent to close at 62.53 points, with advancers edging decliners by 136-103.

Trading value grew by 15 per cent over yesterday to almost VND328.3 billion ($15.6 million) on a volume of 38.3 million shares.

PetroVietnam Construction (PVX) and VNDirect Securities (VND) saw the heaviest trades with over 5 million shares changing hands for each code. VNDhit its ceiling at VND8,100, while PVX also rose 4.9 per cent to close at VND8,600.

Viet Nam's market outlook was still positive, but investors should wait until inflation fell to below 12 per cent, when a sustainable rally would be formed, to buy shares, said Kim Eng Securities Co's head of research and analysis Michael Kokalari.

However, the rapid increase of the stock market in recent weeks might simply be a technical recovery after a long period declining, he added.

Kokalari also recommended investment in shares of the sectors that could help boost economic growth such as consumer goods, information technology and agriculture. — VNS

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