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VietNamNews

Shares slip despite high expectations for economy

Update: January, 30/2015 - 08:29

On the HCM Stock Exchange, the VN-Index fell 0.08 per cent to reach 583.28 points. On the contrary, the VN30 Index added 0.06 per cent to close at 613.90 points. — File Photo

HA NOI (VNS) — National stocks declined slightly yesterday, despite international financial organisations issuing a positive outlook for thetnamese economy.Standard Chartered Bank predicted Viet Nam's gross domestic product (GDP) growing at the rate of 6 per cent, 0.2 per cent higher than its previous forecast.

The consumer confidence index in January compiled by ANZ Bank, fell slightly to 135.4 points, but was still above the 2014 average of 133.3 points. The bank also stated a more optimistic perception of the respondents for its report.

On the HCM Stock Exchange, the VN-Index fell 0.08 per cent to reach 583.28 points. On the contrary, the VN30 Index added 0.06 per cent to close at 613.90 points.

The gain was attributed to the rallying of Da Nang Rubber (DRC) shares, which hit the ceiling price, a 4.3 per cent fillip in rubber firm Casumina (CSM)'s shares and Vinamilk (VNM) rising 4 per cent. Financial group Ocean (OGC) also rose strongly, adding 3.3 per cent despite the arrest of Ocean Bank's—the banking arm of the group–former Chairwoman Nguyen Minh Thu, just like her male predecessor Ha Van Tham.

Overall, among the 30 blue chips tracked by the VN30 Index, losers overwhelmed the gainers by 14 to 10. The transaction value began to decrease from Wednesday's session and continued at the same speed as yesterday, reaching VND1.7 trillion (US$79.8 million) on a volume of 109.7 million shares. On the Ha Noi Stock Exchange, the HNX-Index slid 0.32 per cent to close at 86.95 points. Similar to trading on the southern bourse, the top large-cap stocks in Ha Noi boosted the HNX30 Index up 0.09 per cent to 168.43 points.

The value and volume of traded shares was pegged at VND612.16 billion ($28.7 million) and 50.4 million units. — VNS

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