Tuesday, October 17 2017

VietNamNews

Rising blue chips boost indices

Update: August, 18/2012 - 09:18

HA NOI — Shares continued to advance yesterday on the HCM City bourse, with the benchmark VN-Index rising to a two-month high of 433.45 points, up 0.61 per cent over Thursday.

Blue chips extended gains, lifting the VN30 Index to 515.55 points. Nineteen of the top 30 shares climbed by market capitalisation and liquidity, six declined and five closed flat.

Trading improved with 38 million shares, worth VND715 billion (US$34 million, changed hands, up 40 per cent in volume and 50 per cent in value from Thursday.

Shares of PV Gas (GAS) were bought strongly in the morning session, following the news that the security was added to the MSCI Frontier Index, which represents 98 per cent of the market capitalisation of 31 "frontier" markets. Viet Nam is one of the four Asian countries with stocks included in the Index.

A total of 2.42 million GAS shares were traded yesterday, making it the most active share on the southern bourse. It edged up 3.7 per cent to close at VND41,600 ($1.98).

On the Ha Noi Stock Exchange, the HNX-Index climbed more steadily in the afternoon, adding 0.59 per cent to a close of 70.35 points, its first rise in three days. The HNX30 also increased 0.96 per cent to stand at 134.68 points.

However, both market volume and value were down about 12 per cent, totalling just 30 million shares, worth VND281 billion ($13.4 million).

Sai Gon-Ha Noi Bank (SHB) was the most active yesterday with 3.4 million shares changing hands, but shares slipped 15 per cent to VND7,900 ($0.37) on the first trading day after the merger with Habubank (HBB).

Shares of Habubank (HBB) were delisted from the Ha Noi bourse yesterday and were swapped with SHB at the ratio of 0.75:1. Meanwhile, SHB's shareholders received 0.21 additional SHB shares for each share they own.

SHB shares were allowed to fluctuate about 25 per cent yesterday compared to the daily 7 per cent limit as regulated by the watchdog. Yesterday was also the SHB's ex-date, the date on which SHB shares were traded without enjoying additional share distribution.

Lacking supporting news, most investors are now in a waiting mood. The money flow tended to seek good fundamental companies with great market share and solid business performance despite the medium growth rate, analyst of Bao Viet Securities Co's Nguyen Xuan Binh said. — VNS

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