Wednesday, September 20 2017

VietNamNews

Bank, realty shares back VN-Index

Update: March, 13/2015 - 08:33

Investors watch stocks trading on Hoang Gia Securities Co's trading floor in Ha Noi. The VN-Index closed higher yesterday thanks to gains made by bank and property shares. — VNS Photo Truong Vi

HA NOI (VNS) — The benchmark VN-Index made a rebound yesterday on the HCM Stock Exchange, led by bank and property stock gains.

The VN-Index edged up 0.34 per cent to close the session at 588.53 points, while the VN30, which tracks the top 30 shares by market value and liquidity, increased by a slower pace of 0.16 per cent to end at 620.24 points.

Bank shares rebounded on the information of positive credit growth in the first month of the year. Major banks such as Vietcombank (VCB), Vietinbank (CTG), and the Bank for Investment and Development of Vietnam (BID) posted modest gains of 0.5-0.8 per cent, while others like Sacombank (STB), Military Bank (MBB) and Eximbank (EIB) rose back to the reference price.

Property stock growth also helped the market recover.

FLC Group (FLC), the most active code with 13.1 million shares traded, increased 0.86 per cent to finish at VND11,700 (US$0.55) a share.

By announcing that it has completed the transfer of 20 million shares of CII Bridges & Road Investment Co (LGC) to the Philippines' Metro Pacific Tollways Corp, as well as issuing over 491,000 convertible bonds to this partner, raising a total capital of VND1.029 trillion ($48.1 million), HCM City Infrastructure Investment Co (CII) grew 2.72 per cent yesterday to VND18,900 ($0.88) a share with 3.47 million shares exchanged by the end of the session.

However, overall trading on HCM City's exchange decreased, with just 83 million shares worth over VND1.4 trillion ($65.4 million), down 10 per cent compared with the previous session.

On the Ha Noi Stock Exchange, oil and gas stock slumps pulled the HNX-Index down 0.17 per cent to close at 85.87 points.

Weak trading pushed both market volume and value down 20 per cent from Wednesday's levels, totaling 30.4 million shares worth VND439 billion ($20.5 million).

KLF Joint Venture Global Investment Co (KLF) and F.I.T Investment Co (FIT) were the most heavily-traded stocks here with 2.2 million shares traded on each code. Both ended flat, at VND10,600 a KLF share and VND18,000 a FIT share.

Foreign investors remained net sellers in both markets but their net sell value declined 76 per cent against the previous session, totaling just nearly VND12 billion ($561,000) worth of shares. — VNS



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