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Shares make gains as liquidity drags

Update: December, 25/2014 - 08:48
An investor registers for stock transactions at Vietcombank Securities Co's trading floor in Ha Noi. Shares extended gains yesterday but cautious trading kept liquidity low on the two markets. — VNS Photo Truong Vi
HA NOI (VNS)  — Shares extended gains yesterday but cautious trading kept liquidity low on the two markets.

On the HCM City Stock Exchange, the VN-Index added 0.29 per cent to close at 539.44 points. The VN30, which tracks the top 30 shares by market value and liquidity, increased 0.27 per cent to end at 591.19 points.

Liquidity declined, however, despite positive information on low inflation. The General Statistics Office estimated the consumer price index (CPI) in December would likely fall 0.24 per cent on fuel price cuts, bringing annual inflation growth down to 4.09 per cent.

Market volume was down 40 per cent from Tuesday, totaling 70.7 million shares, while value of trades declined 60 per cent to reach VND1.461 trillion (US$68.3 million).

Vietinbank (CTG) yesterday tumbled 1.43 per cent to close at VND13,800 a share, following the news that the bank may repay over VND1 trillion ($46.7 million) in losses caused by former staff member Huynh Thi Huyen Nhu. Nhu took advantage of her position as the acting head of Vietinbank's Dien Bien Phu transaction office, stealing a total of VND4 trillion ($187 million) from several banks and credit institutions.

Meanwhile, on the other end of spectrum, shares of Orient Securities Co (ORS), one of Nhu's victims, which could take back the VND380 billion ($17.8) Nhu stole, hit its ceiling price of VND3,500.

On the Ha Noi Stock Exchange, the HNX-Index gained 0.48 per cent to finish at 82.82 points and the HNX30, a tracker of the top 30 shares by market value, also climbed 0.6 per cent to stand at 161.48 points.

Though remaining the most active stock with 10 million shares traded, shares of KLF Joint Venture Global Investment Co (KLF) still plunged 2.7 per cent to settle at VND10,800 a share.

Foreign investors again concluded as net buyers in the two stock markets, but their buys declined over the previous session, with a total of VND80.5 billion ($3.8 million) in shares, down 40 per cent compared with Tuesday. — VNS

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