Real estate stocks prop up markets

Tuesday, May 27, 2014 12:31

HA NOI (Biz Hub) — Shares continued to rise this morning on both the exchanges, but the overall trading remained sluggish due to investors' prudence.

On the HCM Stock Exchange, the VN-Index climbed 0.49 per cent to end at 546.75 points, with the gainers being nearly double the losers.

Blue chips also gained as the VN30, which tracks the top 30 shares by market value and liquidity, increased 0.58 per cent to end at 599.68 points.

The real estate stocks were the hottest stocks this morning, with five of them being the most active ones.

They included FLC Group (FLC), Hoang Quan Consulting Trading Service Real Estate Corp (HQC), Tan Tao Investment Industry Corp (ITA), Becamex Infrastructure Development Co (IJC) and Licogi 16 (LCG).

FLC was the most active stock with over 6 million shares being exchanged, while the other above-mentioned stocks also saw between 2.7 million and 4.5 million shares each being traded. All these shares gained between 2.7 per cent and 6.5 per cent in value.

The overall market trading was sluggish, however, as only 61.5 million shares worth VND790.4 billion or US$37.5 million were exchanged by the end of the morning.

On the Ha Noi Stock Exchange, the HNX-Index also rose 1.05 per cent to close at 75.66 points, but the market volume was low at just 45 million shares, worth VN401.5 billion or $19 million.

The property shares were also the most active stocks on the northern bourse, led by Sacomreal (SCR) and PetroVietnam Construction Corp (PVX), with more than 6 million shares of each stock being traded.

SCR jumped 4.82 per cent to stand at VND8,700 per share, while PVX increased 4 per cent to end at VND5,200 per share.

The afternoon trading will start at 1pm. – VNS

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