Shares up as manufacturing brightens

Update: December, 02/2014 - 08:50
On the HCM City Stock Exchange, the VN-Index added 0.25 per cent to 568.01 points. — Photo vietstock
HA NOI (VNS)  — Green returned to the electronic board on both exchanges yesterday, following the light of the manufacturing sector.

HSBC Vietnam announced yesterday that the Vietnam Manufacturing Purchasing Managers' Index regained momentum in November, rising 1.1 points to 52.1 as output and new orders rose at faster rates.

On the HCM City Stock Exchange, the VN-Index added 0.25 per cent to 568.01 points. The VN30 Index, tracking the 30 largest blue chips, also advanced 0.54 per cent to 614.44 points.

Gainers overwhelmed losers 16 to 10. Insurer Bao Viet (BVH), Phu My Fertiliser (DPM) and Eximbank (EIB) were among the top advancers, rising between 3.6-5.1 per cent.

Commercial baker Kinh Do (KDC) tumbled the most, losing 3.8 per cent. The confectionery company told shareholders yesterday that it would focus on expanding size rather than profit during the next couple of years.

The total value and volume of transactions on the bourse reached VND2.2 trillion (US$103.28 million) and over 123.8 million shares.

On the Ha Noi Stock Exchange, the HNX-Index failed to maintain its earlier increase and declined 0.14 per cent, closing at 87.45 points. The HNX30 Index fell 0.42 per cent, finishing the session at 174.46 points.

Trading value slightly decreased over the previous session to VND943.7 billion ($44.3 million) on a volume of 59.1 million shares.

Foreign investors concluded as sellers in both cities, unloading VND157.5 billion ($7.4 million) worth of shares. Selling focused on two energy stocks: PetroVietnam Drilling Services (PVD) and PetroVietnam Technical Services (PVS). Net sales of PVD totalled VND85.7 billion ($4 million), while PVS saw a record value within the past 50 sessions of VND47.2 billion ($2.2 million). — VNS