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Shares extend rally in both cities

Update: January, 09/2014 - 10:35
Investors follow transactions at the Delta Securities Company in Ha Noi. — VNS Photo Truong Vi

HA NOI (VNS)— Shares continued to rise on both stock exchanges during yesterday's session.

On the HCM City Stock Exchange, the VN-Index gained 0.74 per cent to hit 513.90 points. However, the market value declined slightly over Tuesday's level to reach almost VND1.1 trillion (US$52.4 million) on a volume of 70.3 million shares.

Only seven of the 30 largest stocks in terms of capitalisation and liquidity tracked by the VN30 Index tumbled, while 20 others managed to post gains, lifting the index up 0.87 per cent to 573.11 points. The shares of oil and gas giant PetroVietnam's subsidiaries were among the fastest to increase, with PetroVietnam Drilling Services (PVD) hitting the ceiling price, PetroVietnam General Services (PET) rising 3.4 per cent, and PetroVietnam Low Pressure Gas Distribution (PGD) rising 3.8 per cent. Private equity group Masan (MSN) and Sai Gon Securities Inc. (SSI) also enjoyed high growth of 2.4 per cent and 5.6 per cent respectively.

On the Ha Noi Stock Exchange, the HNX-Index ended at 69.99 points, a 0.75 per cent rise.

The HNX30 Index, composed of the bourse's top 30 shares, also advanced by over 1 per cent to 132.87 points.

Mid-and small-cap stocks performed best, seeing the highest increase of 1.2 per cent among the indexes.

Trading value and volume in Ha Noi reached VND454.6 billion ($21.6 million) and 56.2 million shares.

Foreign investors upped their net buying value by 9 per cent, compared with the previous session, to reach VND40.4 billion ($1.9 million).

After the decision to extend foreign ownership in Vietnamese credit institutions saw a positive impact on the market on Tuesday, yesterday's trading session remained positive, although there was no new supportive information. The VN-Index was expected to exceed its resistance, while the HNX-Index was predicted to approach 73-74 points in the medium term.

"However, investors should pay attention to the possible risks as the indexes reach 520 points and 71.5 points," warned Bao Viet Securities Co's Nguyen Xuan Binh. — VNS


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