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VietNamNews

Viet Nam shares gain slightly

Update: October, 17/2015 - 09:55
An investor watches trading on a computer at Hoang Gia Securities Co in Ha Noi. — VNS Photo Truong Vi
HA NOI  (VNS) — Vietnamese shares yesterday rose slightly on both local exchanges as property stocks gained following reports that forecast the real estate market will receive more foreign investment.

The VN Index on the HCM Stock Exchange inched higher 0.1 per cent to close at 593.02 points and the HNX Index on the Ha Noi Stock Exchange was little changed, up 0.04 per cent to finish at 81.18 points, extending gains for a second and third day, respectively.

The real-estate sector index yesterday rose 0.7 per cent after the US-based real-estate service provider Real Value JLL, which has a representative office in Viet Nam, published a report saying that Viet Nam's property market was becoming more attractive to overseas investors.

For example, in the second quarter, a unit of the US-based investment firm Warburg Pincus invested US$100 million into Vincom Retail, a subsidiary of Vingroup Corporation and also the biggest retailer in the country.

Leading local property developers such as Refrigeration Electrical Engineering Corporation (REE), Vingroup Corporation (VIC), PetroVietnam Construction JSC (PVX), FLC Group (FLC), Thang Long Investment Group (TIG) and Kinh Bac City Development Share Holding Corp (KBC) all gained.

REE gained 1.6 per cent, VIC was up 0.7 per cent, PVX increased by 3.2 per cent, FLC rose 1.4 per cent, TIG jumped 6.9 per cent and KBC moved up 2.1 per cent.

FLC and TIG were also the most active stocks on the two local exchanges with more than 9.4 million and 4.7 million shares traded.

In addition, large stocks that will likely or could reduce State ownership such as Binh Minh Plastics JSC (BMP), FPT Corporation (FPT), Vietinbank (CTG), the Bank for Investment and Development of Vietnam (BID) and Vinamilk (VNM) rose to lift the market.

At the end of the day, BMP gained 1.7 per cent, FPT was up 0.2 per cent, CTG rose 1.9 per cent, BID inched up 0.4 per cent and VNM jumped nearly 1 per cent.

Both local exchanges traded more than 182 million shares and VND2.86 trillion ($127 million), an increase of 17.6 per cent from Thursday. — VNS

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