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US Congress deal buoys VN stocks

Update: October, 18/2013 - 08:41
Investors watch market changes at An Binh Securities in Ha Noi. Shares edged up on both national stock exchanges yesterday. — VNS Photo Truong Vi

HA NOI (VNS)— Shares advanced on both national stock exchanges yesterday following the news that the US Congress approved a deal to lift the US government's borrowing limit and end the partial government shutdown.

On the HCM City Stock Exchange, the VN-Index gained 0.13 per cent over yesterday's session to reach 499.59 points, below the 500-point level recorded yesterday morning.

Trading value reached VND956.16 billion (US$45.53 million) on exchange of more than 64 million shares - the highest volume during the last five days.

Shares of many logistics firms increased to their ceiling prices yesterday, including the Viet Nam Ocean Shipping Company (VOS), which reached its ceiling price for the third day in a row. Vitranschart JSC (VST) hit its ceiling price for the fourth day and the Viet Nam Tanker (VTO) for the second day.

The VN30-Index, tracking the southern bourse's largest shares by capitalisation and liquidity, gained 0.11 per cent to close at 557.79 points.

Fifteen codes edged up while four lost. Decliners included Southern Industrial Rubber Company (CSM), Sacombank (STB), Vietcombank (VCB) and Vinamilk (VNM) which lost VND100 – 1,000 per share.

Tan Tao Group (ITA) led the bourse in term of trading volume yesterday with more than 3.2 million shares changing hands. Then came PetroVietnam Transport Corporation (PVT) with 2.86 million shares traded and Hoang Anh Gia Lai Group with 2.62 million shares.

On the Ha Noi Stock Exchange, the HNX-Index finished the day at 61.36 points, 0.38 per cent higher, on trading of more than 40.6 million shares with a total value of VND296.5 billion ($14.12 million).

The HNX30-Index, composed of the capital city's top shares, closed 0.79 per cent higher at 114.62 points.

According to FPT Securities, liquidity improved in recent trading sessions and speculative cash returned with caution as the VN-Index fluctuated around the 500-point level.

Foreign buyers concluded the day with a net value of VND47.98 billion ($2.28 million). Sai Gon - Ha Noi Bank (SHB) attracted foreign investors yesterday with a net purchase value of VND16.1 billion ($766,000).

However, Bao Viet Securities said that the recent consecutive net buying from foreign investors when the VN-Index approached the 500-point level was unusual.

In the past, foreign investors often boosted sales when the benchmark neared the crucial level, it said. — VNS


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