Stocks climb on both exchanges

Update: August, 26/2014 - 09:27
Investors trace market fluctuations at ACB stock trading floor in Ha Noi. The market gained yesterday thanks to strong capital inflow. — VNS Photo Viet Thanh

HA NOI  (VNS) — Money continued to pour into the stock market yesterday, pushing up stock indices on both exchanges.

On the HCM Stock Exchange, the benchmark VN-Index surpassed its March 2008 peak, gaining 5.74 points or 0.93 per cent to close at 625.88 points.

The VN30, which tracks the top 30 shares by market value and liquidity, went up 1.04 per cent to finish at 661.76 points.

On the Ha Noi Stock Exchange, the HNX-Index also jumped 1.77 per cent to end at 84.81 points.

Liquidity was good, with more than 272.6 million shares worth VND4.664 trillion (US$221 million) traded on the two exchanges, up 30 per cent in volume and 40 per cent in value compared with the previous session.

Hot stocks of real estate and oil and gas companies continued to lead trading on the two markets. Four of the top five active codes on the HCM City's bourse were realty companies such as Tan Tao Investment Industry Corp (ITA), FLC Group (FLC), Becamex Infrastructure Development Co (IJC) and Hoang Quan Consulting Trading Service Real Estate Co (HQC) with 7-14 million shares traded on each code.

Trading on the Ha Noi exchange was buoyed by oil and gas shares such as PetroVietnam Construction Co (PVX), PetroVietnam Drilling Mud Corp (PVC) and PetroVietnam Technical Services Corp (PVS). PVX was the most active on the northern exchange with 13.9 million shares traded, advancing 4.2 per cent to close at VND5,000 per share.

The market was boosted by inflation data, according to analysts at FPT Securities Company. The consumer price index (CPI) rose only 0.22 per cent in August, the lowest in nine years, bringing the eight-month growth figure to 1.84 per cent.

"Low CPI growth is expected to result in another reduction in interest rates," they wrote in yesterday's report.

Foreign investors yesterday continued selling for the third day in a row, picking up shares worth a combined VND199 billion ($9.4 million) on the two stock exchanges. — VNS