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VietNamNews

VN-Index climbs on high liquidity

Update: June, 10/2014 - 08:44

HA NOI (VNS)   — Shares rose on the back of a blue chips rally at the HCM City Stock Exchange yesterday afternoon.

The benchmark VN-Index gained nearly 6.6 points, or 1.18 per cent, to close yesterday's session at 565.61 points.

The market condition was positive with 125 stocks climbing, 83 falling and 93 remaining unmoved.

Large-cap stocks continued to head the momentum as 22 of the top 30 shares by market value and liquidity advanced, pushing the VN30 up 0.4 per cent at 610.92 points.

PV Gas (GAS) was the biggest gainer yesterday but its growth slowed down from 6 per cent in the morning to just 4 per cent in the afternoon, closing at VND104,000 (US$4.93) a share.

Others, including Hoang Anh Gia Lai Co (HAG), Saigon Securities Inc (SSI), Phu My Fertiliser (DPM), Kinh Bac City Development (KBC) and Ocean Group (OGC), posted increases of between 0.6 -5.8 per cent.

Trading was busy as market volume and value doubled over Friday's levels, totaling 112.5 million shares worth VND1.66 trillion ($78.7 million).

Real estate FLC Group (FLC) led the southern bourse's trades with 13.8 million shares but closed flat at VND11,000 a share.

According to analysts, investors reacted positively to the information of a potential expansion of the foreign holdings' limit in securities companies in the near future. However, they also warned that this regulation will not affect securities firms and the market much as the number of foreign-invested securities companies is small.

On the Ha Noi Stock Exchange, the HNX-Index lost ground in last minutes, decreasing 0.31 per cent to end the day at 75.62 points despite gainers outnumbering losers 103-81. (69 codes closed flat while 140 were untraded.)

The HNX30 tracking the top 30 stocks also sank 0.91 per cent to stand at 151.48 points.

The market volume rose 55 per cent over Friday, totaling 72.4 million shares worth almost VND742 billion ($35.2 million).

Kim Long Securities Co (KLS) was the most active code yesterday with 12.3 million shares exchanged, climbing 3.4 per cent to close at VND12,100 a share.

Foreign investors continued to be net buyers yesterday on both markets, picking up shares worth a combined VND59 billion ($2.8 million), but most of the value (VND50 billion) were disbursed on the Ha Noi exchange. — VNS

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