Petroleum, realty lead stock gains

Tuesday, Oct 07, 2014 10:54

Shares closed in the green yesterday with the rise of realty and petroleum shares. — Photo
HA NOI (Biz Hub)  — Shares closed in the green yesterday with the rise of realty and petroleum shares.

At the HCM City Stock Exchange, the VN-Index added 0.47 per cent to end at 614.42 points on a total turnover of nearly VND2.9 trillion (US$136.7 million). The VN30 Index, representing the performance of the city's top 30 stocks, also rallied at 0.48 per cent to 662.43 points. Only four of them declined while property developers Vingroup and Hoang Anh Gia Lai (HAG) continued to post positive growth.

Other real estate stocks that advanced include FLC Group (FLC), along with Sudico, Tu Liem Urban Development, 577 Corporation and Tan Tao (ITA). Also advancing were Binh Chanh, Licogi 16, Dat Xanh and Kinh Bac City. These stocks experienced high trading volumes yesterday, notably FLC with 14.1 million, ITA with nine million and HAG with 8.8 million shares.

Last week, the real estate market witnessed a series of deals. Vingroup bought 70 per cent of retail chain Ocean Mart from Ocean Group (OGC) while Kinh Bac City signed a partnership with South Korean LG Electronics. Meanwhile, 577 Corporation announced it would sell project bonds to its Japanese partner, Creed Group.

Yesterday, Viet Nam's first exchange-traded fund began listing its certificate, E1VFVN30, and gained by two per cent, finishing at VND10,400.

At the Ha Noi Stock Exchange, the HNX-Index reached 90.93 points, increasing by 0.67 per cent.

The value and volume of trades were VND1 trillion ($47.1 million) and nearly 75 million shares.

All indices on the exchange added value, with the HNX30, composed of the 30 largest companies in terms of capitalisation and liquidity, leading with an increase of one per cent to 186.88 points.

Oil and gas shares also contributed to the gain of the northern market. BIDV Securities Company raised its review for shares of oil and gas, tire, fisheries, pharmaceutical and textile companies, with real estate and construction companies expecting to grow strongly in the fourth quarter. — VNS

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