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VietNamNews

Shares mixed on investor caution

Update: April, 05/2014 - 09:37
The benchmark index's gain yesterday was narrowed down as investors became more cautious, with the VN-Index rising as much as 0.61 per cent to end at 593.04 points.— Photo VNexpress
HA NOI (VNS)  — Shares showed a mixed trend at closing yesterday, higher on HCM City Exchange but lower on the northern bourse, although Thursday witnessed a strong recovery.

The benchmark index's gain yesterday was narrowed down as investors became more cautious, with the VN-Index rising as much as 0.61 per cent to end at 593.04 points.

Tracking the southern bourse's largest stocks by capitalisation and liquidity, the VN30-Index added 2.45 per cent, or as much as 0.37 per cent, to end at 667.33 points, although losers overwhelmed gainers by 13-10.

The benchmark index received support from Hoa Phat Group (HPG), which rose by 5.7 per cent to close at VND55,500 (US$2.6) per share, Hoa Sen Group (HSG) and PetroVietnam Drilling Corporation (PVD), which earned VND1,500 ($0.07) each per share.

Gains from Vinamilk (VNM), Hoang Anh Gia Lai (HAG) and Pha Lai Thermoelectric Company (PPC) also helped clear losses from losers, including insurance Bao Viet Holdings (BVH), PetroVietnam Fertilisers and Chemicals Corporation (DPM), technology giant FPT Group (FPT) and Ocean Group (OCG).

However, real estate giant Vingroup (VIC) was the market highlight, although the stock closed at its reference price yesterday.

Foreign investors spent a net value of more than VND1.5 trillion ($71.4 million) to buy 22.1 million shares of the VIC yesterday, accounting for 43 per cent of the southern bourse's total trading value, when Xavinco Real Estate Company, in which the VIC owned 96.4 per cent of the charter capital, would transfer 21.6 million shares to foreign investors.

The deal, worth $70 million, would become the biggest-ever stock transaction of a private company in Viet Nam.

This helped boosted the market liquidity yesterday when nearly 120 million shares, with a total trading value of VND3.4 trillion ($161.9 million), changed hands, higher by 15 per cent and 90 per cent, respectively, over Thursday.

On Ha Noi Exchange, the HNX-Index posted a loss of 0.99 per cent to end at 86.76 points, while the HNXFF-Index, composed of stocks with minimum free float rate of 5 per cent, ended at 88.01 points, a drop of 1.04 per cent.

Liquidity continued to decline with a trading value of VND625 billion ($29.7 million).

Composed of the top stocks, the HNX30-Index lost 1.07 per cent to land at 178.72 points.

The FPT Securities said the market lacked supportive information to regain the upward trend in the short term and urged investors to be cautious. — VNS

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