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VietNamNews

Shares gain on higher liquidity

Update: March, 07/2014 - 09:15

HA NOI (VNS) — Shares were seen finishing higher on both the national stock exchanges with improved liquidity boosted by speculative stocks yesterday.

Transactions boomed during early afternoon trading after the Ministry of Finance asked fuel wholesalers to maintain the current retail prices of petrol though they have incurred losses.

The selling pressure on the HCM City Exchange was stronger yesterday, however, with improved demand, the VN-Index managed to close in the black.

The benchmark index added 3.62 points, or 0.63 per cent, to close at 578.56 points.

Liquidity improved over the last three trading sessions to reach more than VND2.23 billion (US$106.1 million) in the trading value on the exchange and more than 141.3 million shares were traded.

The VN-Index was approaching the 580 point-level but some cautioned that this could only be a short-term gain, and today, market fluctuation remained unpredictable.

With half of the southern bourse's 30 largest stocks by capitalisation and liquidity posting gains yesterday, the VN30-Index advanced 0.44 per cent to end at 648.62 points.

The capital inflow targeted real estate stocks, as 6.41 million shares of the property developer Hoang Anh Gia Lai (HAG) changed hands yesterday, leading the bourse in terms of liquidity, while the Tan Tao Group (ITA) ranked second with 5.73 million shares traded.

The Hoa Sen Group (HSG) added 6.3 per cent to reach its ceiling price of VND59,000 ($2.8) per share after Deputy Director of Hoa Sen Group Hoang Duc Huy sold 30,000 shares or more than 80 per cent of his holdings in the company.

The share prices of six blue chips dropped yesterday, including PetroVietnam Low Pressure Gas Distributioin (PGD), PetroVietnam Corporation (PVT), and REE Corporation (REE).

Overall, 143 codes added value, while 80 codes declined.

On the Ha Noi Exchange, the HNX-Index managed to clear losses in the afternoon trading, finishing 0.75 per cent higher at 81.81 points.

The HNXFF-Index, constituting stocks with minimum free-float rate of 5 per cent, ended at 81.64 points, a rise 0.97 per cent.

With 73 million shares traded yesterday on the northern bourse, the trading value reached nearly VND734 billion ($34.9 million).

Comprising 30 top stocks, the HNX30-Index added 2.34 points, as much as 1.46 per cent, to end at 163.07 points.

The net selling of the foreign investors together with the restructuring of the exchange-traded funds' investment list will have an impact on the recovery of the market, according to FPT Securities, adding that trading session with losses will occur. — VNS



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