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VietNamNews

Shares rise on improved outlook

Update: June, 28/2014 - 10:32
Investors follow transactions on the Ha Noi Exchange. Trading volume and value eased respectively by 38 per cent and 40 per cent over the previous trading session yesterday. — VNS Photo Thai Ha
HA NOI (VNS)— The improved economic data released yesterday, helped shares extend their gains on both national stock exchanges.

The gross domestic product in the first six months of this year grew 5.18 per cent over the same period last year, the General Statistics Office said yesterday.

The VN-Index on the HCM City Stock Exchange increased for five days straight to end at 578.82 points after adding 2.42 points or as much as 0.42 per cent yesterday.

However, FPT Securities said the benchmark index did not reflect the real market situation. It had gained despite the fact that a majority of large cap stocks posted losses and the VN Index, which was tracking the southern bourse's largest stocks by capitalisation and liquidity, lost 0.49 per cent to 616.85 points.

The index relied on PetroVietnam Gas Corporation (GAS), a market pillar, which rose 3.7 per cent yesterday although decliners overwhelming advancers by 126-74.

In the VN30 package, 17 codes shed value while five rose and eight closed unchanged.

Trading was sluggish, as both buyers and sellers were cautious over fears of a decline, with the VN-Index, after a five-day winning streak, approaching the strong resistance band of 580 points.

The trading volume and value eased respectively by 38 per cent and 40 per cent over the previous trading session to log 74 million shares and VND1.22 trillion ($58 million).

After an active trading session on Thursday with 22.23 million shares changing hands, FLC Group (FLC) continued to top the bourse by trading volume with 7.47 million shares yesterday, followed by Hoang Quan Corporation (HQC) and Tan Tao Group (ITA).

On the Ha Noi Exchange, the HNX-Index closed up 0.3 per cent at 77.58 points and the HNXFF-Index 0.31 per cent at 78.04 points.

Tracking the top stocks, the HNX30-Index advanced 0.26 per cent to end at 156.23 points.

Market liquidity declined over Thursday's trading with 35.5 million worth VND421.4 billion ($20 million) shares changing hands.

Despite falling market liquidity with local investors cautious, foreign investors continued to inject significant cash into the Viet Nam stock market, as they purchased a net VND160 billion ($7.5 million) shares, 20.28 per cent higher than the previous trading session. — VNS


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