Shares rebound but trading still sluggish

Tuesday, Jul 30, 2013 12:45

HA NOI (Biz Hub)– Shares rebounded this morning on both stock exchanges, but trading remained sluggish as investors appeared uncertain with market volatility.

On the HCM City Stock Exchange, the biggest gains doubled losses made at the bottom end of the market, lifting the VN-Index 0.96 per cent to 490.36 points.

Recovery of blue chips buoyed the market. The VN30, tracking the top 30 shares by market capitalisation and liquidity, was up 0.92 per cent to 542.39 points.

Dairy giant, Vinamilk (VNM), experienced the biggest boost in share price, rising 1.4 per cent to VND143,000 (US$6.81) a share. Volume of VNM shares also traded at 172,000 this morning, following announcements the company will pay a cash dividend of 20 per cent, worth VND1.6 trillion ($76.2 million).

Despite gains made at the top end of the market, overall trading was still sluggish, with just 16 million shares traded, measuring VND288.3 billion ($13.7 million).

No stocks recorded trades more than 1 million shares, although Tan Tao Investment Industry (ITA) was hot property, with over 717,000 shares exchanged at VND5,800 each.

On the Ha Noi Stock Exchange, the HNX-Index also climbed 0.6 per cent to 61.15 points, albeit trading low on VND52.5 billion ($2.5 million).

Newly-comer FIT Investment Co (FIT) surprised the market, with 624,300 shares changing hands at VND13,400 ($0.64) a share.

Trading on the two bourse will resume at 3pm. – VNS

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