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VietNamNews

Blue chips bolster national indices

Update: August, 15/2014 - 08:33

Investors watch market trends at Military Bank Securities in Ha Noi. — Photo Truong Vi

HA NOI (VNS) — National stocks witnessed positive gains yesterday, with the VN-Index on the HCM City Stock Exchange adding 0.41 per cent to reach 605.25 points.

Trading value grew around 14 per cent to VND2.1 trillion (US$99 million) on a volume of 112 million shares.

The VN30 Index, tracking the bourse's 30 leading shares, closed the session at 646.42 points, up 0.2 per cent with 17 advancers and 10 decliners. Top gainers were Da Nang Rubber (DRC), commercial baker Kinh Do (KDC), Vinh Son – Song Hinh Hydropower (VSH) and dairy company Vinamilk (VNM). VSH jumped 3.4 per cent, after its revenue in the second quarter doubled to VND92 billion ($4.3 million) as compared to the same period last year.

On the Ha Noi Stock Exchange, the HNX-Index also put on 0.15 per cent to reach 81.95 points. Blue chips in the northern market lifted the HNX30 Index 0.2 per cent higher to 165.76 points.

As more than 59.2 million shares were traded, trading value reached VND718 billion ($33.86 million).

Securities shares that were favoured during the session included Saigon Securities (SSI), VNDirect (VND) and Bao Viet Securities (BVS) along with BIDV Securities (BSI), HCM City Securities (HCM) and Kim Long (KLS). Sai Gon-Ha Noi Securities (SHS) and Vietinbank Securities (CTS) also found favour.

Foreign investors bought and sold 13.6 million shares on both exchanges, increasing nearly 24 per cent over Wednesday's session. They were net sellers for the eighth successive session on the HCM City Stock Exchange with a net value of VND109.8 billion ($5.2 million) while they ended up as net buyers in Ha Noi with VND11.3 billion ($533,000).

The sale by foreign investors was of some specific stocks rather than the entire market. Andy Ho, CEO of Vina Capital told Dau Tu Chung Khoan (Securities Investment) that he believed that if foreign investors sell in August, it was purely a short-term profit-making activity. — VNS



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