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Property, securities boost indices

Update: May, 21/2014 - 08:21

On the HCM City Stock Exchange, the VN-Index started to rebound later and the upward trend continued in the afternoon, with an additional 4.48 points or as much as 0.84 per cent to finish at 537.52 points.— File Photo

HA NOI (VNS) — Shares managed to advance for the third day on both the national stock exchanges as investors were less pessimistic.

The market witnessed slight decline in early trading, which the Viet Nam Securities Investment Securities attributed to the impact of yesterday's reopened trial of Nguyen Duc Kien, former vice chairman of the founding council of the Asica Commercial Bank, for his massive economic violations.

However, on the HCM City Stock Exchange, the VN-Index started to rebound later and the upward trend continued in the afternoon, with an additional 4.48 points or as much as 0.84 per cent to finish at 537.52 points.

The benchmark index was fuelled by stocks of the property and securities sectors with many closing at their ceiling prices.

These included property FLC Group (FLC), Hoang Quan Corporation (HQC) and Duc Long Gia Lai (DLG), which ended at their ceiling price for three days in a row.

Property stocks continued to lead the southern bourse by trading volumes yesterday. More than 13.3 million shares of FLC were traded, ranking first, followed by HQC, Tan Tao Group (ITA), Viet-Han Corporatioin (VHG) and Hoang Anh Gia Lai (HAG).

Securities stocks including BIDV Securities (BSI) and Sacombank Securities (SBS) also closed yesterday at their ceiling prices.

Although gainers overwhelmed losers by 17 – 6, the VN30-Index, tracking the performance of the southern bourse's 30 top stocks by capitalisation and liquidity, posted modest gain of 0.16 per cent, or 0.96 points, to land at 590.27 points.

Becamex IJC, a market pillar among property stock, rose by 6.4 per cent to its ceiling price of VND11,700 ($0.55) a share.

Vinamilk (VNM), Kinh Do Corporation (KDC) and Southern Rubber Corporation (DRC) added VND1,000 ($0.049) a share each while other gainers rose by between VND100 and VND4,00 a share.

PetroVietnam Drilling Corporation (PVD), Vingroup (VCI) and Masan Group (MSN) were among the losers yesterday.

With 105 million shares changing hands, the trading value reached VND1.3 trillion ($61.9 million).

On the Ha Noi Exchange, the HNX-Index ended 1.5 per cent higher at 73.73 points while the HNXFF-Index, composed of stocks with minimum free float rate of 5 per cent, ended 1.72 per cent at 74.38 points.

The gain was supported by large-cap stocks with the HNX30-Index, tracking top stocks, seen rising by 2.48 per cent to end at 145.62 points.

The trading volume and value increased by 27 per cent and 17 per cent, respectively, over the previous trading to 74.4 million shares and VND596.9 billion ($28.4 million).

Foreign investors continued to inject money into the Viet Nam stock market, concluding as buyers of a net worth of more than VND66 billion ($3.14 million) yesterday. — VNS

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