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VietNamNews

Insurance shares drive market

Update: July, 11/2015 - 09:45
Securities trading activity at the FPT Securities. — VNS Photo Thai Ha

HA NOI  (VNS) — Insurance shares continued driving the national market up, helping the VN Index approach the benchmark of 630 points. However, the index lost its growth during the last minutes as blue chips could not maintain their strong increases.

By the end of yesterday session, the VN Index added 5.18 points, equal to 0.83 per cent, to reach 627.28 points on the HCM Stock Exchange.

On the Ha Noi Stock Exchange, the HNX Index also made gain with an increase of 0.37 per cent to finish at 88.24 points.

In total, local bourses traded 272.5 million shares, worth VND4.13 trillion (US$191.5 million).

Overall, there were 207 advancing stocks and 179 decliners, while total 269 shares remained flat.

Bank shares had a positive session after the State Bank of Viet Nam allowed commercial banks to raise their targeted credit growths.

Among them, only Sacombank (STB) recorded a slight loss in market value, while Vietinbank (CTG) gained VND1,300 or 6.19 per cent in market value to VND22,300 per share.

Insurance shares led maket growth. Three reached ceiling values - BIDV Insurance Corporation (BIC), Bao Minh Insurance Corporation (BMI) and Bao Viet Holdings (BVH). BVH made the highest gain of VND3,500 to VND58,000 per share.

Gas shares were mixed on the southern bourse. Although Petrovietnam Gas Corporation (GAS) declined, the rise of Petrovietnam Drilling & Well Service Corporation (PVD) and Petrovietnam Transportation Corporation (PVT) contributed to help lift the market.

Among blue chips, Kinh Do Corporation (KDC) and Hoa Sen Group (HSG) extended their gains. KDC added VND1,700 to VND45,800 per share, while HSG rose by 2.57 per cent to VND43,800 per share.

These two blue chips had the highest gains on the market yesterday.

Other large-cap shares including Ma San Group (MSN), Vingroup Corporation (VIC) and Refrigeration Electrical Engineering Corporation (REE) also rose and lifted the market.

The market growth was limited as some of the large-cap shares fell from Thursday values. The performance of securities shares was less than expected.

HCM City Securities Corporation (HCM), Sai Gon Securities Incorporation (SSI), VNDirect Securities JSC (VND) and IB Securities JSC (VIX) were typical securities shares that lost their positions on the market.

Ocean Group Corporation (OGC) and Military Bank (MBB) were the two most active codes with 17.4 and 16.8 million shares traded, respectively.

On the northern market, Sai Gon Thuong Tin Real-Estate JSC (SCR) topped the trading activity with nearly 5.8 million shares and gained 3.49 per cent to VND8,900 per share.

On July 14, the HCM Stock Exchange will replace Ocean Group Corporation (OGC) with the Song Da Urban & Industrial Zone Investment and Development Joint Stock Company (SJS).

Foreign investors returned to be net buyers during yesterday session. The market recorded total VND64.8 billion ($3 million) in net buy value, which was a big improvement compared to a net sell value of VND13.7 billion ($634,200) on Thursday. — VNS

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