KBC, KDC rise after VNM ETF review

Monday, Mar 16, 2015 12:16

On the HCM Stock Exchange, the VN-Index dropped 0.29 per cent to end at 584.40 points. — Photo doanhnhansaigon

HA NOI (Biz Hub) — Shares edged down on the two stock exchanges this morning as blue chips fell.

On the HCM Stock Exchange, the VN-Index dropped 0.29 per cent to end at 584.40 points. The VN30, which tracks the top 30 shares by market value and liquidity, saw a more substantial decrease of 0.6 per cent to close at 613.26 points.

Kinh Bac City Development Holdings Corp (KBC) and confectionery Kinh Do Corp (KDC) were among the most heavily-traded stocks this morning, after the Market Vectors Vietnam ETF (VNM) added these two stocks to its portfolio following a review yesterday.

Almost 6.4 million KBC shares were exchanged by the end of this morning, making it the second-most active stock. KBC rose three per cent to close at VND17,400 (US$0.81) per share. FLC remained the most active code with the trading of 8.9 million of its shares.

Meanwhile, nearly 2.4 million KDC shares were traded and the share price climbed 5.84 per cent to end at VND48,900 ($2.29) each.

VNM ETF said it would increase holdings in Vietnamese stocks to 77.5 per cent, which would likely make it invest about $33.8 million in the domestic sector in the future.

Liquidity improved slightly this morning, with a total 53.4 million shares, worth VND942.5 billion ($44 million), being traded in the market.

On the Ha Noi Stock Exchange, the HNX-Index declined 0.46 per cent to finish at 85.33 points on the merge market value of just VND333.3 billion ($15.6 million).

FLC's investment arm, KLF Joint Venture Global Investment Co (KLF), was again leading the market volume here with 2.1 million of its shares being traded, increasing 0.94 per cent in value to stand at VND10,700 per share.

The afternoon session will start at 1pm. —  VNS

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