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Shares finish up on both bourses

Update: September, 06/2013 - 09:27
On the HCM City Stock Exchange, the VN-Index gained 1.3 per cent to 477.57 points as advancers outnumbered decliners by 129-56.— File Photo

HA NOI (VNS)— Shares rebounded on both stock exchanges yesterday, ending a two-day tumble.

On the HCM City Stock Exchange, the VN-Index gained 1.3 per cent to 477.57 points as advancers outnumbered decliners by 129-56.

Trading value and volume reached VND788.4 billion (US$37.18 million) and nearly 47.5 million shares, respectively, declining around 53.6 per cent over Wednesday's level.

Blue chips performed well, assisting the VN30 that tracks the city's top 30 shares to rise 1.15 per cent to 531.71 points.

Only commercial baker Kinh Do (KDC) and food processor Bourbon Tay Ninh (SBT) slightly lost value.

Insurer Bao Viet Holdings (BVH) led the rally with a 5.8 per cent increase, followed by steel company Hoa Sen (HSG) up 4 per cent, rubber firm Casumina (CSM) up 3.8 per cent and Da Nang Rubber (DRC) up 3 per cent.

On the Ha Noi Stock Exchange, the HNX-Index also added 0.7 per cent to reach 60.62 points. The number of gainers almost doubled losers.

However, liquidity remained low with only 16.5 million shares worth VND122.15 billion ($5.7 million) traded.

The HNX30, composed of the southern exchange's 30 leading shares by capitalisation and liquidity, closed at 110.85 points, a 1.4 per cent rise over Wednesday.

While foreign investors stayed as net buyers in HCM City by a margin of VND72.2 billion ($3.4 million), they were sellers in Ha Noi by VND620.1 million ($29,200).

On an economic basis, inflation in September was under pressure to rise due to a decision to lift tuition fees in HCM City, said Bao Viet Securities Co analyst Tran Hai Yen.

"The fees could rise 2 to 6 times," she added. "In the near future, the consumer price index will continue with the increase as the city plans to lift the rates for medical services."

Yen said that in the third quarter, money would mainly flow to stocks with potential for profit. She remained cautious, recommending investors do the same. — VNS

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