HCM City market extends rally amid optimism

Monday, Jul 21, 2014 12:38

HA NOI (Biz Hub) — Optimism continued to help lift shares on the HCM Stock Exchange this morning, with the benchmark VN-Index closing up 0.62 per cent to reach 599.97 points.

Gains made by blue chips also helped the market as major stocks, including Vinamilk (VNM), PV Gas (GAS) and VinGroup (VIC), advanced between 1 to 3 per cent.

Shares of software giant FPT Corp (FPT) dropped 1.9 per cent to close at VND51,500 (US$2.44) per share this morning, after it denied rumours of a takeover by Apple. FPT shares had hit the ceiling price on Friday, following reports that Apple intends to buy FPT to counter rival Samsung in Asia.

The VN30, which tracks the top 30 shares by market capitalisation and liquidity, was up 0.18 per cent to finish at 646.67 points.

Nearly 60 million shares, worth more than VND1.11 trillion ($52.6 million), were exchanged by the end of the morning.

Hoang Quan Consulting Trading Service Real Estate Corp (HQC) was leading the market volume, with nearly 7.4 million shares being traded, rising 1.2 per cent to end at VND8,400 each.

In contrast, the HNX-Index declined 0.20 per cent to close at 80.98 points on the Ha Noi Stock Exchange.

The losers were double the number of gainers, while half of the stocks remained unchanged.

Trading was modest with more than 27 million shares, worth nearly VND342 billion ($16.2 million), being traded.

Kim Long Securities Co (KLS) was the most active code here on the trading of 2.5 million shares, a fall of 1.63 per cent to close at VND12,100 per share.

The trading will resume at 1pm. – VNS

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