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Activity surges on both bourses

Update: September, 12/2013 - 09:35
Transactions on both bourses rose slightly yesterday. The VN-Index on the HCM City Stock Exchange increased 0.39 per cent to end the day at 476.4 points, but liquidity continues to decline.—Photo datviet

HANOI (VNS) — Transactions on both bourses rose slightly yesterday. The VN-Index on the HCM City Stock Exchange increased 0.39 per cent to end the day at 476.4 points, but liquidity continues to decline.

Stocks advanced for a second straight day as investors continued to pick up blue-chips with good fundamentals amid a worldwide stock rally.

The local market sentiment improved on a long winning run on world markets. Up until yesterday, Asian stocks have advanced for nine straight days.

Although the Vietnamese market has little correlation with the rest of the world, remarkable developments still have certain effects, an FPT Securities analyst said.

According to data compiled by FPT Securities, the gauge rose 15 per cent for the year to date,

The market breadth was positive on the southern bourse. One hundred and eight advanced, 67 tumbled, 83 closed unchanged, and 48 stocks were untraded.

The VN30-Index, a free float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange, gained 1.72 points, or 0.32 per cent, to close at 531.91. Among its 30 members, 15 stocks advanced, eight declined, and seven were unmoved.

Market volume was up 20 per cent from a day earlier to 33.6 million shares. Fund certificates worth VND656 billion rose 50 per cent.

Property developer, An Duong Thao Dien Co (HAR), was still the most active yesterday trading 1.79 million shares. It shed 4.4 per cent to close at VND6,500.

FLC Group (FLC), came second in market volume with 1.8 million shares changing hands. It jumped 2.3 per cent to end at VND4,500.

Tan Tao Investment Industry Corporation (ITA) rose 1.85 per cent to settle at VND5,500 on a trade of 1.6 million shares, the third most active on the gauge.

At the close, 18 stocks were traded at the upper limit, which was capped at 7 per cent by market regulators.

Foreign investors remained net buyers on the HCM City Bourse yesterday, purchasing 2.5 million shares. This brought the total volume of shares to nearly 2.9 million for the whole day's trading.

On the Ha Noi Stock Exchange, the HNX-Index also gained with weak trading as traders continued to bet on blue-chips on sustained worldwide gains. However, trading activity was weak amid the unclear domestic outlook.

Strong global gains had a positive impact on local market sentiment, a stock analyst said. Asian stocks have advanced for nine straight days as of yesterday.

However, investor participation weakened as the market outlook remained vague, he said, citing for poor liquidity.

The HNX-Index, a measure of 386 stocks, rose 0.24 per cent to close at 60.19 points. On Monday, it hit the lowest close since May 6. — VNS

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