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VietNamNews

VN-Index climbs on blue chips

Update: January, 09/2015 - 08:35

Investors follow transactions at Vietcombank Securities Company in Ha Noi. — VNS Photo Truong Vi

HA NOI (VNS) — Gains by bank stocks and other blue chips rescued the VN-Index from a fall yesterday after selling pressure surged unexpectedly in the afternoon session.

On the HCM Stock Exchange, the VN-Index inched up 0.26 per cent to close at 553.47 points.

Large-cap shares like PV Gas (GAS), dairy giant Vinamilk (VNM) and real estate developer VinGroup (VIC) increased by 0.5-1.5 per cent each, supporting the market amid negative conditions with decliners almost doubling advancers.

Bank shares were mixed as Vietcombank (VCB), Military Bank (MBB) and Sacombank (STB) posted gains while Eximbank (EIB) and Vietinbank (CTG) declined slightly.

The VN30, which tracks the top 30 shares by market value and liquidity, fell 0.13 per cent to end at 606.85 points.

Investors became more cautious ahead of earnings season, according to analysts at FPT Securities Co. As the economy performed well last year, companies were expected to report better business results.

Liquidity also decreased compared with Wednesday's level. Market volume fell 30 per cent to nearly 78 million shares and trading value dropped 22 per cent to reach VND1.4 trillion (US$65.4 million).

FLC Group (FLC) remained the most active code with 12.1 million shares traded, but the share price dipped 3.57 per cent to close at VND10,800 a share.

The HNX-Index on the Ha Noi Stock Exchange decreased 0.1 per cent to finish the session at 84.10 points due to the lack of support from blue chips.

Trading volume also declined 20 per cent from Wednesday's level, totaling nearly 44 million shares, while the value of trades fell 10 per cent to reach VND590 billion ($27.6 million).

FLC Joint Venture Global Investment Co (KLF) again claimed the position of the most active code with 7.2 million shares, plunging 4.4 per cent to end at VND10,900 a share.

Sai Gon-Ha Noi Securities Co (SHS) rose to be among the top five most active codes in the Ha Noi market yesterday following the information that the company was ranked in the top 10 brokerage houses with the highest market shares on the Ha Noi Stock Exchange in the fourth quarter of last year. More than 2.8 million SHS shares were exchanged at the price of VND10,900 a share, up 2.83 per cent over the previous session.

Foreign investors continued to unload shares in HCM City, responsible for a net sell value of VND45.5 billion ($2.1 million), but they remained net buyers in Ha Noi, picking up shares worth VND21.35 billion ($1 million). — VNS



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