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HCM City bourse bounces back

Update: January, 18/2014 - 09:58
Staffs on the Ha Noi Stock Exchange review auction of electric bonds. The total trading value reached a record high of VND2.3 trillion (US$104.54 million) on the exchange of 118 million shares. — VNA/VNS Photo Tuan Anh

HA NOI (VNS) — HCM City Stock Exchange witnessed a strong rebound yesterday in both liquidity and benchmark indices, while the Ha Noi market suffered from profit-taking pressure and closed down.

The VN-Index jumped 1.88 per cent, equal to 10.05 points, to reach 543.59 points. This was the largest gain on the benchmark index in the past four years.

Cash flowed strongly into the market, with improved liquidity. The total trading value reached a record high of VND2.3 trillion (US$104.54 million) on the exchange of 118 million shares.

Blue chips were the market stimulators yesterday, with Bao Viet Group (BVH), Hoa Phat Group (HPG), Masan Group, and Sacombank (STB) reaching their ceiling prices, with gains of VND2,700 ($0.128), VND3,000 ($0.142), VND6,000 ($0.28), and VND1,200 ($0.057) per share, respectively.

Seventeen of the southern bourse's 30 largest shares added value, surpassing six losers to help the VN30-Index jump 2.72 per cent to reach 605.5 points.

Losers included Southern Rubber Corporation (CSM), HCM City Infrastructure Development (IJC), Ocean Group (OCG), and PetroVietnam Low Pressure Gas Distribution (PGD) and PetroVietnam Transportation (PVT) also saw losses.

Trading was active yesterday, boosting the VN-Index to reach 550 points at one time. However, the increasing selling pressure in the afternoon session dragged down the benchmark index to close the day at a lower level.

However, on the Ha Noi Exchange, the HNX-Index closed 0.29 per cent lower at 72.29 points, while the HNXFF-Index, composed of stocks with a minimum free float rate of 5 per cent, dropped 0.2 per cent to 72.49 points.

Liquidity remained at a high level, with 71.1 million shares traded for a total trading value of VND676.3 billion ($32.2 million).

The HNX30-Index, tracking the capital city's 30 largest shares, closed at 140.62 points, 0.88 per cent lower.

Foreign investors concluded yesterday as net sellers of VND248 billion ($12.4 million) worth of shares. — VNS


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