Wednesday, September 20 2017

VietNamNews

VN-Index edges past 600 points

Update: March, 05/2015 - 09:08
On the HCM City Stock Exchange, the benchmark index added 0.62 per cent to close the session at 600.39 points, the highest level since November, 2014. — Photo BizLIVE
HA NOI (VNS) — The VN-Index successfully surpassed the psychological landmark of 600 points as buying power increased dramatically in yesterday's afternoon session.

On the HCM City Stock Exchange, the benchmark index added 0.62 per cent to close the session at 600.39 points, the highest level since November, 2014.

The market condition was positive as advancers more than doubled decliners.

Blue chips were mixed. However, thanks to growth by heavyweight stocks like Bao Viet Holdings Co (BVH), Vinamilk (VNM), Vietcombank (VCB) and Eximbank (EIB), the VN30, which tracks the top 30 shares by market value and liquidity, increased 0.39 per cent to end at 629.69 points.

Liquidity improved only slightly compared to the previous session, totaling nearly 121 million shares worth VND2.05 trillion (US$95.8 million).

Cash flows focused on small and mid-shares, particularly in securities and real estate stocks like HCM City Securities Co (HCM), Saigon Securities Inc (SSI), BIDV Securities Co (BSI), Kinh Bac City Development (KBC), Hoa Binh Construction and Real Estate (HBC), and Development Investment Construction (DIG).

H.A.I Agrochem Co (HAI) rose to be the most active stock yesterday with trading of 11.8 million shares, but the price fell 1.85 per cent to finish at VND15,900 ($0.74). The company estimates its revenue will likely reach VND700 billion ($32.7 million) and profit VND35 billion ($1.6 million) for the first half of the 2014-15 financial year (starting from September 2014).

This figure represents an increase of 100 per cent compared to the same period last year and helps the firm complete 50 per cent of its yearly target. HAI announced plans to issue 15 million shares to FLC Group (FLC) for VND12,500 a share.

On the Ha Noi Stock Exchange, the HNX-Index edged up 0.71 per cent to close at 86.85 points showing growing investors' confidence.

Liquidity grew 10 per cent in volume reaching 50.5 million shares and rising 20 per cent in value to VND644 billion ($30.1 million).

KLF Joint Venture Global Investment Co (KLF) again claimed the most active stock with 7.7 million shares traded, gaining 0.93 per cent in value to end at VND10,800 a share.

Foreign investors continued to buy shares in the two markets, picking up combined shares worth VND110.25 billion ($5.2 million). — VNS

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