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VietNamNews

Masan Group leads City gains

Update: March, 22/2013 - 09:26

HA NOI — The VN-Index gained another 1 per cent to close the session at 491.79 points on the HCM City Stock Exchange yesterday.

Advancers overwhelmed decliners by 109-65.

Trading value improved from Wednesday, reaching more than VND1.35 trillion (US$64.2 million), with nearly 57.2 million shares changing hands.

Blue chips led the market rise, with the VN30 tracking the top 30 shares on the bourse increasing 1.5 per cent to 559.39 points. Half the large-cap stocks enjoyed the rally.

Notably, food processor Masan Group (MSN) hit its ceiling price of VND128,000 per share. Investors hoped for more growth after US investment company Texas Pacific Group's TPG Growth said its investment success with Masan was tremendous.

Commercial baker Kinh Do (KDC) saw more than 7 million shares exchanged through negotiations during the afternoon session. The negotiation value reached almost VND330 billion ($15.7 million).

Trades accomplished through negotiation accounted for 30 per cent of yesterday's transactions in HCM City.

On the Ha Noi Stock Exchange, however, the HNX-Index dropped 0.08 per cent to 61.49 points on a slightly decreasing turnover of over VND270 billion ($12.8 million).

The HNX30, composed of the northern exchange's largest shares, lost nearly 0.3 per cent to reach 117.94 points.

Contrary to the previous session, foreign investors returned to buy more in HCM City. The combined net buying value in both cities totalled VND44.3 billion ($2.1 million).

The HNX-Index continued to fluctuate around 60.5 - 62.5 points, while the VN-Index, with support from large-cap stocks, was heading up and would test the previous high of 497 points, according to BIDV Securities Co analysts.

"Recent supportive information such as Vietcombank reducing interest rates and establishing the asset management company in March is going to have a positive impact on the market in the near future," they said. "Investors can use part of their cash to buy in this period." — VNS



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