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Economic recovery boosts shares

Update: December, 24/2013 - 10:07
Traders monitor market movements at SSI Securities. — VNS Photo Doan Tung

HA NOI (VNS)— Shares rebounded on both national stock exchanges yesterday.

Official economic data yesterday showed signs of continuing recovery. Although the gross domestic product (GDP) this year was announced to have increased 5.42 per cent, which is below the target of 5.5 per cent, but it was higher than last year's growth.

Meanwhile, the nation's consumer price index (CPI) rose 6.04 per cent, compared to last year, which is the lowest increase of the price index in a decade.

In addition, Viet Nam saw a trade surplus of US$863 million in 2013.

Meanwhile, the benchmark VN-Index on the HCM City Stock Exchange added 0.84 per cent to finish at 508.68 points.

Trading value reached nearly one-half of last Friday's profit taking session, or VND1.47 trillion ($69.3 million), on a volume of 108.2 million shares.

The VN30, tracking the southern city's top shares, earned 0.95 per cent to advance to 565.98 points. Among the 30 blue chips, gainers overwhelmed losers 19-9.

Becamex Infrastructure (IJC) hit its daily increase limit of 7 per cent, while property giant Vingroup (VIC) rose 6 per cent to reach VND70,000 ($3.3) per share. Others to enjoy positive gains included steelmaker Hoa Phat (HPG), up 2.3 per cent, logistic company Gemadept (GMD), up 4.5 per cent, and rubber firm Casumina (CSM), up 3.2 per cent.

On the Ha Noi Stock Exchange, the HNX-Index gained almost 1.2 per cent to reach 68.30 points. The HNX30, composed of the 30 largest stocks in terms of capitalisation and liquidity, also increased nearly 1.5 per cent to end at 129.92 points.

Other indices each added value.

The value of trades on the bourse, however, declined some 30 per cent over the previous session to VND441.8 billion ($20.8 million), as more than 48 million shares were traded.

Foreign investors bought a net of VND62.3 billion ($2.9 million) after being net sellers last Friday. — VNS

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