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VietNamNews

Optimism boosts shares nationwide

Update: September, 04/2014 - 08:48
Investors continued to pour money in stocks, pushing up the market volume by 20 per cent to nearly 205 million shares worth VND3.575 trillion (US$169.4 million).— Photo hanoimoi

HA NOI  (VNS) — Prospects of a growing uptrend attracted more investors into the stock market and helped lift indices on both stock exchanges in Viet Nam yesterday.

On the HCM Stock Exchange, the VN-Index added another 4 points, or 0.64 per cent, to close the session at 640.75 points. The VN30, which tracks the top 30 shares by market value and liquidity, also rose by 0.31 per cent to end at 678.90 points.

Investors continued to pour money in stocks, pushing up the market volume by 20 per cent to nearly 205 million shares worth VND3.575 trillion (US$169.4 million).

Realty stocks are still leading the HCM City market as the four most active codes come from this group. FLC Group (FLC) saw the highest volume at 21.6 million shares, climbing by 4.76 per cent to finish at VND13,200 per share.

Tan Tao Investment Industry Corporation (ITA) came second with nearly 13 million shares. Hoang Quan Consulting Trading Service Real Estate Corporation (HQC) and Becamex Infrastructure Development Company (IJC) also had from four to eight million shares traded on each code.

According to analysts, growing optimism in the current uptrend lured a number of risk investors into using financial leverage. They believe the Index will reach as high as 650 to 700 points and have channeled money in rising stocks like oil and gas, securities and real estate, as well as mining and shipping.

However, a long rally also drove many traders to sell to lock in profits, thus resulting in narrower profit margins.

On the Ha Noi Stock Exchange, the HNX-Index also inched up by 0.33 per cent to finish at 87.33 points after rising to 88 points in the morning.

The HNX30, the tracker of the 30 stocks with highest market value and liquidity on the Ha Noi market, increased by 0.33 per cent to end at 180.25 points.

Liquidity remained high, with nearly 86 million shares worth VND1.04 trillion ($49.3 million).

PetroVietnam Construction Corporation (PVX) claimed the position of the most active code on total trades of 10.5 million shares, ending flat at VND5,700 per share. Sai Gon-Ha Noi Bank (SHB) followed with 9.4 million shares, climbing by 2.11 per cent to close at VND9,700 each.

Foreign investors remained net buyers on the two bourses, picking up shares worth a combined VND57 billion ($2.7 million). — VNS

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