Wednesday, August 23 2017

VietNamNews

Speculative shares help boost market

Update: January, 16/2015 - 08:05

Investors trace market fluctuations at Vietcombank's stock trading floor. — VNS Photo Truong Vi

HA NOI (VNS) — Shares managed to grow nationwide yesterday, with the rally led by speculative stocks.

Notable were trading volumes from KLF Investment (KLF) – 23.4 million shares; property developer FLC Group (FLC) – 9.9 million; and HAI Agrochem (HAI) – 6.9 million. Also, Fecon Mining (FCM) hit its ceiling price, while KLF jumped 9 per cent.

Oil and gas stocks rebounded the most with a composite rate of 4.2 per cent, while insurance companies jointly declined 1.6 per cent – the deepest fall among sectors.

"The domestic stock market has gradually become balanced after erratic fluctuations," said Bao Viet Securities Co's Tran Hai Yen. The risk of rapid slumps has now been reduced, she said. She also said she expected that consumption would improve, signalling the recovery of the economy – hence the optimistic sentiment for the stock market.

On the HCM City Stock Exchange, the VN-Index rallied 0.13 per cent to 577.74 points.

The VN30 Index, which tracks the city's 30 largest stocks in terms of capitalisation and liquidity, also recovered, adding 0.13 per cent to grow to 617.62 points.

Of the 30 stocks, PetroVietnam Transportation (PVT) reached the daily increase limit, (FLC), financial group Ocean (OGC) and PetroVietnam Drilling Service (PVD) rose 2.8 to 4.2 per cent, among 13 advancers. Meanwhile, nine others tumbled.

Transaction value on the bourse hit over VND2 trillion (US$93.9 million), with nearly 120.1 million shares.

On the Ha Noi Stock Exchange, the HNX-Index climbed quickly at 1.2 per cent to finish at 85.88 points.

The HNX30 Index, representing the performance of the bourse's top 30 blue chips, increased 1.78 per cent to 167.96 points.The trading value reached VND967 billion ($45.4 million), and 67.56 million shares changed hands.Foreign investors again changed statuses, concluding as net sellers with a margin of VND17.43 billion ($818,300). — VNS



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