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VietNamNews

Markets soar on strong investment

Update: May, 21/2015 - 09:20
The national stock market yesterday improved on both bourses, as investment flowed strongly and many shares hit their ceiling prices. — VNS Photo Viet Thanh
HA NOI (VNS)  — Markets exploded yesterday as traders invested in strong numbers on the two exchanges, lifting both indices and liquidity.

On the HCM Stock Exchange, the VN-Index soared 2.47 per cent, adding over 13 points to close the session at 550.10 points. The VN30, which tracks the top 30 shares by market value and liquidity, rose 2.86 per cent to end at 572.34 points.

Shares performed well with many hitting their ceiling price. The number of advancers overwhelmed decliners by 207-39, and only 57 stocks went flat.

Liquidity grew substantially. Both market volume and value climbed over 35 per cent from Tuesday's levels, totaling at 129 million shares worth VND1.79 trillion (US$82.5 million) by the end of the session.

"It's not surprising to see a strong recovery happen after a strong downtrend. Green lit across the electronic board, from small caps to blue chips," analysts at Viet Dragon Securities Co wrote online.

Three stocks had trades of more than 10 million shares yesterday - Ocean Group (OGC), HCM City Infrastructure Investment Corp (CII) and FLC Group (FLC) - of which OGC was the most active code with nearly 13 million shares exchanged.

Despite OGC's activity, only CII and FLC values climbed by 5.2 per cent and 6.4 per cent, respectively. OGC ended flat at VND2,500 a share.

On the Ha Noi Stock Exchange, the HNX-Index also rose steadily since morning, gaining 2.45 per cent to finish the session at 79.34 points.

The market condition was looking bright with the number of gainers tripling losers.

Liquidity improved by 50 per cent over Tuesday in both volume and value. Almost 60 million shares worth a total VND678 billion ($31.2 million) were traded by the end of the afternoon.

KLF Joint Venture Global Investment Co (KLF) remained the most active stock with nearly nine million shares traded to end the session at VND7,200 a share.

The Ha Noi's exchange saw the first listing of more than 16 million shares of the Vietnam Enterprise Investment and Development Co (FID) yesterday. The shares rose 1.74 per cent in value for its first day, closing at VND11,700 ($0.54) with over 650,000 shares traded.

FID, formed in 2010 with initial charter capital of just VND10 billion ($461,000), operates in the construction sector - real estate trading and corporate brand development. Corporate brand development is the most profitable segment of the company.

Foreign investors continued to collect shares in the two markets yesterday but their buys decreased slightly over Tuesday, reaching just VND114 billion ($5.3 million) worth of shares in both markets. — VNS

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