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Confident investors drive up indices

Update: May, 22/2014 - 08:25
The VN-Index on the HCM City Stock Exchange added 6.36 points or as much as 1.18 per cent to finish at 543.88 points, fuelled by both large-cap stocks and speculative stocks.— File Photo

HA NOI (VNS)  — Shares extended gains on both the national stock exchanges yesterday, as trading intensified in the afternoon.

The benchmark indices advanced for four days as investors regained confidence following the Government's pledge to ensure stable development of the stock market.

Negative pressures on the market, such as the ongoing East Sea tension and the two-week-long trial of Nguyen Duc Kien, former vice chairman of the founding council of the Asia Commercial Bank, for his alleged large-scale economic violations, seemingly did not make much of an impact, according to securities companies.

Buying activities intensified in the afternoon trading, with 219 codes in the southern bourse rising, 74 of which closed at their ceiling prices. On the Ha Noi Exchange, 191 stocks advanced, 49 of which reached their ceiling prices at the end of the day.

The VN-Index on the HCM City Stock Exchange added 6.36 points or as much as 1.18 per cent to finish at 543.88 points, fuelled by both large-cap stocks and speculative stocks.

Nearly 103 million shares changed hands, worth VND1.48 trillion or US$70.4 million.

Large-cap stocks posted strong gains, with the HCM City Infrastructure Investment Corporation (CII), Becamex IJC (IJC) and the REE Corporation (REE) rising to their ceiling prices.

The VN30-Index, tracking the southern bourse's top stocks by capitalisation and liquidity, ended up 1.11 per cent and closed at 596.82 points.

Twenty-two blue chips advanced, while only six posted losses.

Many property stocks reached their ceiling prices yesterday, including the FLC Group (FLC) and the Hoang Quan Corporation (HQC).

On the Ha Noi Exchange, the HNX-Index jumped 2.49 per cent to finish at 75.57 points, while the HNXFF-Index added 2.59 per cent to end at 76.31 points.

Tracking the performance of the capital city's top stocks, the HNX30-Index rose by 5.65 points, or as much as 3.88 per cent, to finish at 151.27 points.

With 79.5 million shares traded, the trading value reached VND679 billion, or $32.3 million.

For the first time in the last 20 trading sessions, foreign investors were net sellers on the HCM City Stock Exchange yesterday, with a net value of VND27.39 billion or $1.3 million. However, they purchased a net value of VND22.09 billion of shares on the Ha Noi Exchange. — VNS

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