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VietNamNews

Indices fall ahead of holidays

Update: April, 27/2012 - 09:09

 

Investors follow transactions at SME Securities Trading Floor in Ha Noi. — VNS Photo Truong Vi
HA NOI — Investors lifted market volume and value on the HCM City Stock Exchange yesterday afternoon, despite stocks faltering towards the end of the session.

In HCM City, the VN-Index settled yesterday's session down 0.56 per cent at 470.21 points, although advancers outnumbered decliners by 135-106.

Blue chips tumbled as 20 of the 30 leading shares by market value and liquidity declined, sending the VN30 Index to 538.1 points, down 0.86 per cent from Wednesday.

Market value jumped 35 per cent, however, totalling VND1.75 trillion (US$83.3 million) with 96.3 million shares exchanged.

The market remained upbeat but many investors had decided to sell shares to take profits ahead of the holiday next week, FPT Securities Co analysts wrote in a research note.

"Like previous corrections, the profit-taking sales turned out to be buying opportunities for others," they said.

Shares in minerals companies were again the heaviest gainers, with most hitting their ceiling prices yesterday. They included Binh Dinh Minerals (BMC), Nari Hamico Minerals (KSS), Ha Giang Minerals (HGM), Tay Bac Minerals Investment (KTB), Binh Thuan Hamico Mineral (KSA) and Lao Cai Mineral Exploitation & Processing (LCM).

These shares have gained a lot since last week, and analysts said that high cash dividends were the main reason for this speculative wave. HGM paid last year's cash dividend at a rate of 80 per cent while BMC paid 50 per cent.

SACOM Development and Investment Corp (SAM) was still the most active stock on a volume of 4.8 million shares, rising 4.3 per cent to end at VND9,700.

On the Ha Noi Stock Exchange, the HNX-Index lost over 1 per cent to close yesterday's session at 78.74 points. Trading value decreased slightly to VND776.6 billion ($37 million) on a total volume of 75 million shares.

Losers edged gainers by a margin of 149-126.

Habubank (HBB) again secured its position as the most heavily-traded stock nationwide with nearly 13.3 million shares changing hands, closing up 1.4 per cent at VND7,100.

Foreign investors continued to be net buyers on both exchanges, picking up a combined VND46.6 billion ($2.2 million) worth of shares. — VNS

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