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VN markets show mixed results

Update: December, 27/2013 - 09:16
Trading value on the HCM City Stock Exchange jumped 39.7 per cent over Wednesday's session to VND1.37 trillion (US$64.6 million), as 82.9 million shares changed hands.— Photo cafef

HA NOI (VNS)— HCM City shares finished yesterday's session higher, as the VN-Index reached 506.55 points, up 0.42 per cent.

Trading value on the HCM City Stock Exchange jumped 39.7 per cent over Wednesday's session to VND1.37 trillion (US$64.6 million), as 82.9 million shares changed hands.

Meanwhile, the VN30 Index, tracking the city's 30 leading shares in terms of capitalisation and liquidity, rose more than 0.2 per cent to 562.45 points.

Also, many blue chips saw increasing trading volume through the negotiation method, such as private equity group Masan (MSN) with 2 million units, financial conglomerate Ocean Group (OGC) with 6.9 million units and Vinamilk (VNM) with 248,000 units. These three stocks declined between 0.6-1.8 per cent.

Property developer Tan Tao (ITA) was the most active stock in HCM City with nearly 10.5 million shares exchanged, edging up 1.5 per cent.

On the Ha Noi Stock Exchange, the benchmark HNX-Index lost 0.15 per cent to 68.10 points, while the HNX30, composed of the northern bourse's top shares, shed 0.42 per cent to 128.36 points.

Trading value and volume, however, climbed 12.5 per cent, compared to the previous day, to VND430.4 billion ($20.3 million) and 57 million shares.

PetroVietnam Construction (PVX) was the most notable stock in Ha Noi yesterday, although it only closed at the reference price. Investors traded over 22 million PVX shares, accounting for 39 per cent of the exchange's volume.

Foreign investors bought a net of VND124.55 billion ($5.8 million), rising 60.7 per cent compared to Wednesday's level.

As there has not been any support due to economic information, the major impact to the domestic stock market is the cash status of investors.

"Interbank interest rates have been increasing since earlier this week, but the rise was not too large," said Bao Viet Securities Co's Tran Hai Yen.

Year-end was typically the peak in demand for money, therefore the liquidity of banks would be affected, she added.

"However, it is only a short-term change, and the overall liquidity of the system will be assured thanks to a higher funding rate than credit growth." — VNS

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