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VietNamNews

Shares make last-minute gains

Update: August, 08/2014 - 08:25

An investor watches market fluctuations at FPT Securities. — VNS Photo Truong Vi

HA NOI (VNS) — Stocks managed to post small gains in the final minutes of trading despite sinking in the red on both exchanges yesterday.

On the HCM Stock Exchange, the benchmark VN-Index inched up just 0.15 per cent to close the session at 607.62 points.

Blue chips were mixed. Many of the biggest shares in term of market value like Masan Group (MSN), FPT Corporation (FPT), VinGroup (VIC), Hoang Anh Gia Lai Company (HAG) and Hoa Phat Group (HPG) lost value. Others like Vinamilk (VNM), Bao Viet Holdings (BVH), Ocean Group (OGC) and Saigon Securities Inc (SSI) advanced.

The VN30 which tracks the top 30 shares by market value and liquidity was up 0.03 per cent, ending at 644.19 points.

Overall trading decreased with the market value declining around 25 per cent from Wednesday to nearly VND1.459 trillion (US$69.1 million) on a total volume of more than 91 million shares and fund certificates.

Real estate developer FLC Group (FLC) continued to be the most active code here on a whopping volume of 17 million shares. The share prices climbed more than 3 per cent to close at VND13,600 per share.

The group reached a credit agreement with The Global Emerging Markets Group (GEM), following which GEM will invest VND200 billion ($9.5 million) in FLC in the next 12 months, as well as will buy 3 million FLC shares from the group's big shareholders at the price of VND20,000 per share.

In addition, GEM also committed to subscribe 3 million shares from the shareholders of the corporation in accordance with an agreed price at VND20,000 per share.

On the Ha Noi Stock Exchange, the HNX-Index also closed up 0.48 per cent at 80.78 points as advancers outnumbered decliners by 110-78 while the remaining 167 ended flat.

Both market volume and value decreased slightly compared with the previous session, totaling nearly 49 million shares worth VND532 billion ($25.2 million).

Sai Gon Thuong Tin Real Estate Company (SCR), led trades on the northern bourse with a volume of 9.2 million shares, rising 5.8 per cent to settle at VND9,200 per share.

Foreign investors continued to sell local shares yesterday. They again concluded the session as net sellers on the two markets, unloading combined shares worth VND130 billion ($6.2 million). — VNS



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