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Investor optimism lifts indices in north, south

Update: July, 08/2014 - 08:48
On the HCM City Stock Exchange, the VN-Index stayed above a three-month high, gaining another 0.23 per cent to close yesterday's session at 590.69 points.— Photo vov

HANOI  (VNS) — Fervent trading in the afternoon pushed up stock indices and liquidity on both markets yesterday, driven by investor optimism ahead of first-half corporate earnings reports.

On the HCM City Stock Exchange, the VN-Index stayed above a three-month high, gaining another 0.23 per cent to close yesterday's session at 590.69 points.

The market condition was positive as advancers outnumbered decliners by 126-94 and 80 closed flat.

Blue chips continued to rally, giving a boost to the VN30, which tracks the top 30 shares by market value and liquidity and rose 0.91 per cent to end at 636.75 points.

Real estate giant Vin-Group (VIC) closed at the ceiling price of VND71,000 a share (US$3.36) following reports the group would spend nearly VND2 trillion ($94.8 million) to pay cash dividends at 21.5 per cent.

Other large-caps, including Hoang Anh Gia Lai Co (HAG), Bao Viet Holdings (BVH), FPT Corp (FPT) and Phu My Fertiliser (DMP), also increased by 1-2 per cent.

Market value remained high at more than VND2.1 trillion ($99.5 million) while the volume of trades reached nearly 128 million.

FLC Group (FLC) was again the most active stock on trades of almost 14 million shares, climbing 3.3 per cent to close at VND12,600.

On the Ha Noi Stock Exchange, the HNX-Index unexpectedly lost value in the last few minutes, sliding 0.65 per cent to close at 78.92 points, although gainers outnumbered losers by 97-89. The other 174 closed unmoved.

Trading was more sluggish as market volume declined 20 per cent from the previous session, totalling 55 million shares worth VND 675 billion ($32 million).

Sai Gon Thuong Tin Real Estate Co (SCR) continued to be the most heavily-traded stock here with 5.2 million shares, closing flat at VND9,200 a share.

Foreign investors extended their buys on both exchanges yesterday, picking up shares worth a combined VND62 billion ($2.9 million). — VNS

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