Vinamilk leads market rebound

Tuesday, Nov 03, 2015 12:26

Shares rallied this morning on the domestic stock market. — Photo

HA NOI (Biz Hub) — Shares rebounded slightly this morning after yesterday's slump, boosted by the positive performance of dairy producer Vinamilk (VNM).

The benchmark VN-Index on the HCM Stock Exchange rose 0.12 per cent to close at 603.5 points.

On the smaller exchange in Ha Noi, the HNX-Index edged up 0.2 per cent to end at 81.3 points.

The price of Vinamilk increased 2.6 per cent this morning to touch VND120,000 (US$5.36) per share, following reports that Singapore's food and beverage company Fraser and Neave (F&N) had offered to buy the 45.1 per cent stake held by Viet Nam's State Capital Investment Corporation in Vinamilk in a deal worth $4 billion.

However, F&N denied this report in a filing submitted to Singapore's stock exchange this morning.

The overall market condition was neutral, with 25 per cent of the total 680 trading stocks advancing, while another 25 per cent fell and 50 per cent closed unchanged.

Liquidity remained modest, with just 80 million shares worth VND1.6 trillion ($71.4 million) being traded in the two markets by the end of the morning.

The afternoon session will start at 1pm. — VNS

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