Monday, September 25 2017

VietNamNews

Shares creep up ahead of holiday

Update: February, 11/2015 - 08:33

Transactions are conducted at Maybank Kim Eng Securities Company in HCM CIty. — VNA/VNS Photo Hoang Hai

HA NOI (VNS) — Stocks on both the exchanges in Viet Nam rose yesterday, reflecting slightly improved liquidity.

Bao Viet Securities Co's analyst Tran Duc Anh predicted that liquidity would continue to remain low during the next couple of days. There are three more market sessions to go before the market closes for the Lunar New Year holiday.

Anh also suggested that investors should limit short-term trading and shift to a medium-term portfolio.

On the HCM City Stock Exchange, the VN Index ended at 574.52 points, up 0.17 per cent from Monday's close.

The VN30 Index also rose slightly by 0.13 per cent to reach 595.53 points, assisted by the gains in 12 large-cap stocks among the 30 stocks it tracks. While steel manufacturer Hoa Phat (HPG) was the fastest declining blue chip on Monday, it reversed its losses to become the top gainer yesterday, adding 3.3 per cent.

The 30 blue chips, despite accounting for only a tenth of the bourse's total listed shares, made up for nearly half of the entire HCM City market yesterday in terms of value.

Overall, the transaction value and volume hit VND1.325 trillion (US$62.2 million) and 73.8 million shares.

The Bank for Investment and Development of Viet Nam (BID) was the most active code on the southern bourse, with over 3.5 million shares being traded, rising 3.5 per cent. The rally followed information that the bank will sell a 25 per cent stake to foreign investors in the third quarter of this year.

Other bank stocks also rallied, including Vietinbank (CTG) by 3.4 per cent, Military Bank (MBB) shares were up slightly by 0.7 per cent, both Vietcombank (VCB) and Asia Commercial Bank's (ACB's) shares rose 0.6 per cent and the Sai Gon-Ha Noi Bank's (SHB's) stock increased by 1.1 per cent.

On the Ha Noi Stock Exchange, the HNX Index also edged up 0.09 per cent to 83.40 points on a turnover of nearly VND534.3 billion ($25 million).

The HNX30 Index finished the day at 161.56 points, rising 0.23 per cent. — VNS



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