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Trade deficit news boosts shares

Update: March, 24/2012 - 08:24

 

Investors watch trade movements at Sacombank Securities Co. Domestic shares closed up yesterday following headlines that the nation would likely see the trade deficit narrow in March. — VNA/VNS Photo Hoang Hai
HA NOI — Shares closed up on both national stock exchanges following headlines that the nation would likely see the trade deficit narrow in March.

The market responded positively, with the VN-Index adding nearly 1.9 per cent on the day to close at 454.10 points. The VN30 also advanced by 1.4 per cent to 512.84 points.

The value of trades rose slightly to VND1.2 trillion ($57.1 million) on a volume of over 88 million shares. Gainers outnumbered losers by 194-59.

Among blue chips, PetroVietnam Finance (PVF) again hit its ceiling price, along with insurer Bao Viet Holdings (BVH), financial conglomerate Ocean (OCG), real estate developer Sudico (SJS) and dairy giant Vinamilk (VNM). Of the 10 leading shares by capitalisation, only Vietcombank (VCB) retreated, closing off by 1.3 per cent.

Concluding its shareholder meeting yesterday in HCM City, Vinamilk announced it would pay a 40-per-cent cash dividend this year instead of 30 per cent and would consider offering bonus shares. Vinamilk chairman Mai Kieu Lien said that unaudited data showed a 30-per-cent growth in earnings and a 22-per-cent growth in profit in the first two months of this year. She projected that the company would post a profit of VND4.7 trillion ($223.8 million) this year, up 11.2 per cent over last year.

On the Ha Noi Stock Exchange, the HNX-Index concluded yesterday's session at 77.57 points, a 1.9 per cent rise over Thursday, with two-thirds of codes closing in green. Value reached VND1.2 trillion ($57.1 million), 20 per cent above Thursday's level, while volume totalled 117.6 million shares.

Habubank (HBB) was once again the most-active share nationwide with some 19.5 million exchanged.

Foreign investors saw their fifth successive session as net buyers on the HCM City exchange this week, picking up shares yeserday worth a combined net of VND397 billion ($18.9 million).

However, they were sellers in Ha Noi yesteday, unloading shares worth a net of VND5.3 billion ($252,380). — VNS

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