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VN-Index struggles to make gains

Update: June, 11/2014 - 08:20

On the Ha Noi Stock Exchange, the HNX-Index lost 0.88 per cent to close at 74.95 points as the losers doubled the gainers.— File Photo

HA NOI (VNS) — Stocks continued to rise yesterday on the HCM Stock Exchange despite the fact that decliners more than doubled the advancers.

The benchmark VN-Index inched 0.23 per cent up at 566.89 points, but the market condition was negative with 148 shares tumbling, 63 climbing and 90 closing flat.

Only five of the top 30 shares by market capitalisation and liquidity advanced, pushing the VN30 down 0.38 per cent to stand at 608.59 points.

Gains of PV Gas (GAS) and Masan Group (MSN) helped cushion the market, however. GAS increased 2.9 per cent to VND107,000 (US$5.07) a share while MSN went up 1.5 per cent to close at VND98,500 ($4.67).

Overall trading was sluggish as both market volume and value were down 30 per cent, totalling 79.4 million shares worth nearly VND1.16 trillion ($55 million).

Real estate FLC Group (FLC) was again the most active code with 13.86 million shares exchanged, but the price dived 5.5 per cent to end at VND10,400 a share.

Securities shares on the two exchanges went into decline yesterday after a two-day rally. This followed information that foreign holdings in securities companies could be increased in the near future.

Shares in Saigon Securities Inc (SSI), HCM Securities Co (HCM) on the HCM City's exchange, Kim Long Securities (KLS) and VNDirect Securities (VND) on the Ha Noi exchange all dropped from 3.3-5.8 per cent.

On the Ha Noi Stock Exchange, the HNX-Index lost 0.88 per cent to close at 74.95 points as the losers doubled the gainers.

Blue chips were the main drag with the HNX30 down 1.26 per cent to 149.58 points.

Trading was sluggish as the market volume and value fell 40 per cent to nearly 42 million shares worth VND460 billion ($21.8 million).

Without support information, FLC Joint Venture Global Investment JSC (KLF) surprised the market to become the most active code on the northern bourse on trades of 6.4 million shares. However, they dipped 1.8 per cent to close at VND11,100 a share. Foreign investors continued to collect shares on both markets. They were responsible for a total net buy value of VND58.43 billion ($2.8 million). — VNS

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