VN-Index passes five-year peak

Saturday, Aug 23, 2014 11:33

Investors follow transactions at FPT Securities in Ha Noi. — VNS Photo Thai Ha
HA NOI  (Biz Hub)— Local investors maintained their strong buys yesterday afternoon, keeping the benchmark VN-Index above the five-year peak of 615 points reached in October 2009 to close at 620.14 points.

On the HCM Stock Exchange, advancers doubled decliners and blue chips continued to be the market momentum.

PV Gas (GAS), the biggest stock with the highest market value, jumped 3.4 per cent to VND122,000 (US$5.78) per share.

Insurer Bao Viet Holdings (BVH) retreated in the afternoon session, but others retained their gains, such as Phu My Fertiliser (DPM), Masan Group (MSN), VinGroup (VIC), FPT Corporation (FPT), Ocean Group (OGC) and Hoa Phat Group (HPG) with rises from 1-2 per cent.

The VN30 which tracks the top 30 shares by market value and liquidity was up 0.77 per cent to stand at 654.96 points.

Liquidity was good with market volume increasing 10 per cent above the previous session, totalling more than 163.5 million shares and fund certificates. However, value of trades declined 15 per cent to VND2.787 trillion ($132 million).

Realty stocks were the most active on the exchange, led by FLC Group (FLC) on total trades of 28.5 million shares. Tan Tao Investment - Industry Corporation (ITA) and Hoang Quan Consulting Trading Service Real Estate Corporation (HQC) followed with 17.8 million shares and 3.9 million shares traded, respectively.

On the Ha Noi Stock Exchange, the HNX-Index also climbed to a four-month high at 83.34 points, up 0.4 per cent over Thursday's session.

The gainers outnumbered the losers by 113-81 and 161 stocks closed unchanged.

Liquidity waned, however, as both market volume and value declined 10 per cent from Thursday's levels, totalling nearly 60 million shares, worth VND765.2 billion ($36.3 million).

Real estate companies also dominated trading on the northern bourse. The two most active stocks were from this sector. Both PetroVietnam Construction Corporation (PVX) and Sai Gon Thuong Tin Real Estate Company (SCR) saw about 6 million shares traded on each code.

According to many analysts, investors are optimistic and believe the market will go further.

Foreign investors extended their net buys yesterday on both markets, picking up shares worth a combined VND98 billion ($4.6 million). — VNS

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