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VietNamNews

Shares stagnate on stimulus lack

Update: October, 31/2013 - 08:35
The benchmark VN-Index on the HCM City Stock Exchange put on 0.4 per cent yesterday to close at 499.07 points.—File Photo

HA NOI (VNS)— Shares slightly rose during yesterday's session on both stock exchanges, as liquidity improved, but remained lower than previous trading days.

"The market still lacks a strong stimulus, so investors remain cautious in their transactions," ACB Securities Co analyst Hoang Huy noted.

Although there was some encouraging information - such as better movements on the world stock market and the National Financial Supervisory Commission's forecast that Viet Nam's gross domestic product (GDP) growth in the fourth quarter could reach 6 per cent - the domestic stock market failed to muster much momentum.

Investors were advised to keep an average ratio of stocks in their portfolios.

The benchmark VN-Index on the HCM City Stock Exchange put on 0.4 per cent yesterday to close at 499.07 points.

Trading value was driven up to VND1.2 trillion (US$56.6 million) on a volume of almost 48.4 million shares.

Among the 30 leading blue chips, half retreated, while 11 posted gains including two of the most influential stocks – private equity group Masan (MSN) and property titan Vingroup (VIC).

Another notable large-cap share was Vietinbank (CTG), which saw around 7.5 million shares traded at the ceiling price through the negotiation method.

The stock saw a total transaction volume of more than 8.5 million as it rose 1.7 per cent.

The VN30, tracking these blue chips, also crept up nearly 0.2 per cent to reach 557.23 points.

On the Ha Noi Stock Exchange, the HNX-Index finished the session at 61.58 points, a 0.14 per cent rise over Tuesday's session.

Trading value totalled VND184 billion ($8.6 million), as volume fetched over 21.2 million units.

The HNX30, composed of the bourse's top 30 shares in terms of capitalisation and liquidity, added 0.3 per cent to hit 115.10 points.

Foreign investors were net buyers on both bourses, with a combined net value of VND68.3 billion ($3.2 million). — VNS

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