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Friday the 13th proves lucky

Update: July, 14/2012 - 08:29

 

Staff receive order matching at the Ha Noi Stock Exchange. The HNX-Index rose to 70.57 per cent, a 1.8 per cent increase. — VNA/VNS Photo Hoang Lam
HA NOI — Shares closed up yesterday – the so-called "bad luck" day, Friday 13.

At an increasing rate during the session, the VN-Index came back to above the previous support level of 413 points, and the HNX-Index also formed a small peak on the price chart.

"All of these factors help strengthen the possibility that the two indices have stopped declining," commented Kim Eng Securities Co analysts in their daily report.

However, analysts from other securities companies alleged that the downtrend could not yet be broken.

In a long-term standpoint, benchmark indices could alter the trend, said analysts for the website viestock.vn. In fact, there was high probability of deeply declining, they said, "but if technical trendlines and liquidity recover in the coming sessions, there will be opportunities to buy."

On the HCM City Stock Exchange, the VN-Index added 2 per cent to 416.98 points.

Winners largely overwhelmed losers by 220-40.

Trading improved, with market value climbing 15.5 per cent over Thursday's level to VND763.7 billion (US$36.3 million) and trading volume hitting over 55.7 million shares.

Of the 30 leading shares by capitalisation and liquidity tracked by the VN30, which advanced 1.9 per cent to 492.36 points, only Kinh Do Confectionery Co (KDC) and food processor Hung Vuong (HVG) retreated 0.2-0.3 per cent and Sacombank (STB) ended unchanged. Meanwhile, others posted healthy gains. In particular, two stocks hit their daily increase limit, including property developer Quoc Cuong Gia Lai (QCG) and financier Ocean Group (OGC).

Another blue chip – Military Bank (MBB) – also hit its ceiling price during yesterday's session.

On the Ha Noi Stock Exchange, the HNX-Index rose to 70.57 per cent, a 1.8 per cent increase.

The value of trades jumped 67.3 per cent to VND493.1 billion ($23.4 million), as overall volume fetched 57 million shares.

The HNX30, tracking the northern bourse's leading stocks, put on 2.76 per cent to 134.53 points.

VNDirect Securities Co (VND) was still the most active code nationwide with 6.3 million shares changing hands.

Foreign investors swam against the trend to conclude as sellers on both bourses, unloading a margin of VND15.5 billion ($738,000). — VNS

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