Shares rise on both exchanges

Update: September, 09/2014 - 09:11
Securities transactions at the VPBank stock trading floor in Ha Noi. — VNS Photo Truong Vi

HA NOI  (VNS) — Shares continued to rise in Ha Noi and reversed their losses in HCM City yesterday.

On the Ha Noi Stock Exchange, the HNX-Index added 1.3 per cent to close at 89.70 points.

Trading value and volume reached VND1.2 trillion (US$56.6 million) and 87 million shares respectively.

The HNX30 Index, comprising the bourse's top 30 stocks, gained 1.22 per cent to end at 185.36 points.

On the HCM City Stock Exchange, the VN-Index closed at 639.85 points, up by almost 0.2 per cent.

The VN30 Index also advanced by 0.18 per cent to finish at 678.83 points, with 14 gainers and nine losers among the 30 stocks that it tracks. Trading value stayed high at nearly VND3.2 trillion ($150.9 million) on volume of 182.2 million shares.

Money headed for penny stocks, helping the shares of Binh Thuan Mineral (KSA), Petro Capital Infrastructure Investment (PTL), Petroleum Industrial and Civil Construction (PXI), Petroleum Equipment Assembly and Metal Structure (PXS) and Petrovietnam Transportation (PVT), according to analysts for the financial information website

The VN-Index has often increased in September, they pointed out, and would likely do so this month as the consumer price index was forecast to rise by 0.6-0.8 per cent. Inflation was also an indicator for improved buying power.

"Currently, we expect the Government will maintain easing policies to boost the economy. We also hope business operations in the third quarter will pick up," the analysts wrote.

Experts also picked shares for investment. FPT Securities Co's and Vietcombank Securities Co's analysts said property developer Hoang Anh Gia Lai (HAG) and An Phat Plastic and Green Environment (AAA) were suitable for medium- and long-term investment. Military Bank Securities thought shares in realtor Sonadezi Long Thanh (SZL) would reach VND25,200 by the year-end, jumping 34 per cent, while Bao Viet Securities said the price of paper company Dong Hai (DHC) would be VND23,900 compared to yesterday's close of VND19,200. — VNS