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VietNamNews

Investor confidence lifts share markets

Update: August, 27/2014 - 08:24

Investors trace stock movements at the Ha Noi Stock Exchange . — VNS Photo Thai Ha

HA NOI (VNS) — Investors' appetite for shares continued to climb despite both stock indices moving near strong resistance levels.

On the HCM City Stock Exchange yesterday, the benchmark VN-Index added another 3.18 points, or 0.51 per cent, to close the session at 629.06 points.

Blue chips kept the market momentum as large-cap stocks such as Vietcombank (VCB), FPT Corporation (FPT), Bao Viet Holdings (BVH), Phu My Fertiliser Co (DPM) and Kinh Bac City Development Co (KBC) rose strongly.

The VN30 tracking the top 30 shares by market value and liquidity went up 0.98 per cent to end at 668.25 points.

Liquidity continued to increase with both market volume and value growing 25 per cent from Monday, totalling 135.4 million shares worth VND2.594 trillion (US$123 million).

Realty stocks again drew most investments. Four of the five most active codes were from this sector. FLC Group (FLC), Tan Tao Investment Industry Corporation (ITA), KBC and Hoang Anh Gia Lai Company (HAG) led the market with volumes of 5-13 million shares traded on each code.

Analysts said increasing liquidity showed investor confidence was being strengthened, supported by optimistic economic data, including low inflation and trade surplus.

On the Ha Noi Stock Exchange, the HNX-Index also grew 1.04 per cent to finish yesterday at 85.69 points.

The market was little changed from the previous session, totaling nearly 91 million shares worth VND1.164 trillion ($55.2 million).

Sai Gon-Ha Noi Bank (SHB) became the most active stock in the capital yesterday with 10.9 million shares, rising 1.09 per cent to end at VND9,300 per share.

PetroVietnam Construction Corporation (PVX) came second on trades of more than nine million shares, closing up 2 per cent to VND5,100 a share.

Foreign investors extended their net buying streak to the fourth day in a row. They picked up a combined VND74.2 billion ($3.5 million) worth of shares on the two stock exchanges.

KBC led the foreign buys in both volume and value with more than 2 million shares worth VND31.39 billion ($1.5 million) traded. That strong buy also pushed the share price up 6.45 per cent to finish at VND13,200 a share. — VNS



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