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VietNamNews

Shares eke out gains despite caution

Update: May, 27/2014 - 08:48

HA NOI  (VNS) — Shares managed to close higher on both national stock exchanges in yesterday's afternoon session, but trading remained modest as investors were cautious about the market outlook.

On the HCM Stock Exchange, the VN-Index increased 0.47 per cent to end yesterday at 544.06 points, with gainers outnumbering losers by 141-68.

Blue chips were mixed as half of the top 30 shares by market value rose but nine declined and six were flat.

The VN30 inched up 0.32 per cent to 596.24 points.

The gainers included Masan Group (MSN), Bao Viet Holdings (BVH), Vietcombank (VCB) and Gemandept but other heavyweight stocks such as Vinamilk (VNM), Vietinbank (CTG), Phu My Fertiliser (DPM), FPT Corp (FPT) and Hoang Anh Gia Lai Co (HAG) plunged.

Market volume was little changed from the previous session, totaling nearly 86 million shares, while the value of trades increased 10 per cent to almost VND1.2 trillion (US$56.9 million).

Real estate FLC Group (FLC) was the most active stock on the southern exchange with nearly 12 million shares, advancing 6.7 per cent to end at VND11,100 a share.

On the Ha Noi Stock Exchange, the HNX-Index also added 0.41 per cent to close at 74.88 points, sustained by the solid rally of HCM City's market.

The market condition was positive with 110 shares rising, 69 falling and 188 closing flat.

Blue chips here also gained, with the HNX30 climbing 0.3 per cent to 148.59 points.

Trading was sluggish, however, as market volume was down 30 per cent from Friday, totaling over 41 million shares worth VND355.2 billion ($16.8 million).

Sacomreal (SCR) was the most active share yesterday on trades of 5.85 million shares, closing flat at VND8,300 a share.

According to stock analysts, the market is likely to fluctuate in the coming sessions as the VN-Index approaches its short-term resistance level. Many sellers stopped unloading shares at low prices.

Even foreign investors reduced their buys. They were net buyers on the HCM City exchange yesterday, but only purchased VND37.77 billion ($1.8 million) worth of shares, a significant decrease from the previous net value of hundreds of billions of dong per session.

They were net sellers on the Ha Noi bourse, unloading shares worth more than VND8.81 billion ($41,800). — VNS

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