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Shares climb on growth data

Update: June, 30/2012 - 07:51

 

Investors monitor transactions at the offices of ACB Securities in Ha Noi. — VNS Photo Truong Vi
HA NOI — Shares gained in HCM City yesterday after the gross domestic product for the first half of this year was announced to have increased by 4.38 per cent compared to the same period last year.

After temporarily halting a five-day losing streak on Thursday, market liquidity during yesterday's session only stood at the average of last week, signalling no significant change, Kim Eng Securities Co analysts said in their daily report.

Hoa Binh Securities Co analyst Nguyen Thi Kieu predicted the short- and medium-term trend was to decline.

In yesterday's session, the gains of the VN-Index were primarily due to the rally of some influential stocks, she said. As trading was meagre on both bourses, the rally did not mean anything.

On the HCM City Stock Exchange, the VN-Index edged up 1 per cent to 422.37 points. Advancers outnumbered decliners by 171-56.

The VN30, tracking the southern bourse's leading shares in terms of capitalisation and liquidity, added 1.22 per cent to 497.70 points thanks to positive gains of major stocks such as insurer Bao Viet Holdings (BVH) and Eximbank (EIB) – both adding 3.8 per cent – Phu My Fertiliser (DPM) up 1.5 per cent, Vietcombank (VCB) up 1 per cent and food processor Masan (MSN) increasing 2.5 per cent.

Meanwhile, only property and entertainment services developer Vingroup (VIC) retreated 0.6 per cent.

The overall value of trades jumped 28.8 per cent over Thursday's level to approximately VND1 trillion (US$19.3 million) on a volume of 55.8 million shares.

Meanwhile, on the Ha Noi Stock Exchange, the HNX-Index closed down 0.4 per cent to 71.07 points.

Only 27.2 million shares changed hands, totalling a 8.3 per cent lower market value of VND275.1 billion ($13 million).

According to Ha Quang Tuyen, head of the General Statistics Office's National Account Department, GDP growth in the last six months of the year must reach 7.28-8.18 per cent if the annual growth target of 6-6.5 per cent was to be achieved.

In addition, credit growth should reach 12-14 per cent, with total payments up 12-13 per cent. The consumer price index would then be 6-7 per cent growth. — VNS

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