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Stocks soar on blue chip gains

Update: August, 06/2014 - 08:30

An employee at the Ha Noi Stock Exchange. The VN-Index soared to a five-year high of 607.73 points yesterday thanks to rallies made by blue chips. — VNS Photo Viet Thanh

HA NOI (VNS) — The VN-Index soared to a five-year high of 607.73 points yesterday, up 1.45 per cent over Monday. The rise was again due to rallies made by blue chips.

The biggest stock in terms of market value on the HCM Stock Exchange, PV Gas (GAS), surged 4.5 per cent to close at VND117,000 (US$5.55) per share after the corporation posted a 6 per cent rise in second-quarter profit.

Software giant FPT Corporation (FPT), a member of the top 30 shares by market value and liquidity, also jumped 3 per cent to end at VND51,500 ($1.44) a share. The group on Monday has appointed Tomokazu Hamaguchi, chairman of Japan Information Technology Services Industry Association, to its management board.

Hamaguchi was former president and CEO of NTT Data Corporation, the sixth largest global IT services company and a Fortune 32 telecommunications and IT services company. The move shows FPT's ambition to reach out to the world.

The VN30, which tracks the top 30 shares with the highest market value and liquidity, went up 0.72 per cent to close at 643.56 points.

Overall trading was positive as market volume increased 20 per cent over the previous session, totalling 86.6 million shares and fund certificates, worth nearly VND1.62 trillion ($77 million), up 35 per cent on Monday.

Real estate FLC Group (FLC) continued to be the most active code on the southern bourse with 8.5 million shares traded. The share price also rose 2.3 per cent to end at VND13,400 ($0.64).

On the Ha Noi Stock Exchange, the HNX-Index also gained 0.74 per cent to end at 80.12 points, the highest close since October 2009.

Blue chips were the main support as the HNX30 grew 1.21 per cent to stand at 160.86 points.

Trading became busy in the afternoon, lifting market volume up 50 per cent above the previous day to nearly 44 million shares. Value of trades also rose 40 per cent to VND573 billion ($27 million).

PetroVietnam Construction Corporation (PVX) was the leading stock in terms of volume with 7.5 million shares, climbing 4.4 per cent to touch VND4,700.

By contrast to the enthusiasm of domestic investors, foreigners unexpectedly sold shares across the two bourses. They were responsible for a combined net sell value of nearly VND72.5 billion ($3.4 million). — VNS



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