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VietNamNews

Shares edge higher nationwide

Update: October, 19/2013 - 10:24
Investors wait for the stock result at Ha Noi's An Binh Securities exchange floor.— VNS Photo Truong Vi

HA NOI (VNS)  — Shares advanced on both national stock exchanges yesterday, finishing up for the fourth straight day.

On the HCM City Stock Exchange, the HNX-Index crept back above the 500-point level, edging up 0.25 per cent to 500.83 points.

More than 69.74 million shares changed hands with a total value of VND1.15 trillion (US$54.76 million), 8 per cent and 20 per cent higher than the previous day.

According to executive director of VinaCapital, Andy Ho, the Viet Nam stock market was becoming increasingly appealing to foreign investors.

From the beginning of this year to date, the VN-Index has soared 17.5 per cent, Ho said, forecasting the benchmark indice to possibly hit 530 points by the end of this year, proving that the macro-economic environment had improved.

According to Tran Hoang Son, analyst at MB Securities as quoted by Dau Tu Chung Khoan, the return of foreign capital would help boost the recovery of the Viet Nam stock market and support the VN-Index towards this ambitious target.

The VN30-Index, tracking the southern bourse's largest shares by capitalisation and liquidity, rose 0.29 per cent to 559.38 points,

Advancers overwhelmed losers by 15-6.

Notably, Ocean Group (OGN) rose 6.9 per cent to reach its ceiling price at VND10,800 ($5.14) per share.

Bourbon Tay Ninh (SBT), Masan Group (MNG), PetroVietnam General Service Company (PET), Hoa Sen Group (HSG) and HCM City Infrastructure Investment (CII) weren't so fortunate, losing between VND100-VND1,500 per share.

Real estate stocks had a good trading, with firms such as Tan Tao Group (ITA) and Development Investment Construction JSC (DIG) making gains.

ITA lead the southern bourse in terms of trading volume yesterday with more than 11 million shares being exchanged.

On the Ha Noi Stock Exchange, the HNX-Index advanced 0.27 per cent to 61.52 points on trading of more than 23.87 million shares with a total value of VND200.58 billion ($9.55 million).

The HNX30-Index, composed of the capital city's top shares, finished the day 0.19 per cent higher to 114.83 points.

Son said investors should consider shares in promising sectors such as pharmaceuticals, plastics, tyres and tube products, consumer goods, natural rubber and gas for short-term investments. — VNS


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