Vinamilk helps shares rise again
Vietnamese shares rose on June 28, covering losses made during the session as dairy firm Vinamilk boosted investor confidence on its latest announcement on foreign ownership.
Illustrative image (Source: VNA)The benchmark VN Index on the HCM Stock Exchange inched up 0.2 percent to finish at 622.20 points, extending a two-day gain of 0.3 percent.
The HNX Index on the Hanoi Stock Exchange gained 0.4 percent to close at 83.88 points, rebounding from a two-day decline of 2.1 percent.
Dairy firm Vinamilk (VNM) boosted local markets after the company decided on the day that foreign investors may own entire stakes in its capital.
VNM closed up 2.2 percent at the end of the session after surging 5.1 percent at some point during the day.
Other pharmaceutical firms and plastic producers also made gains. An Phat Plastic and Green Environment JSC (AAA), Domesco Medical Import-Export Corp (DMC) and Japan-Vietnam Medical Instrument JSC (JVC) soared between 4.8 percent and 6.9 percent.
Some blue chips also recovered from recent falls, especially those on the northern trading bourse such as Sai Gon-Hanoi Bank (SHB), VicostoneJSC (VCS) and Vietnam Construction and Import-Export Corp (VCG).
On the negative side, investors remained cautious and chose to wait for official announcements made by countries that are directly involved in Britain’s exit of the European Union, Sai Gon-Hanoi Securities Corp (SHS) said.
Investors’ cautiousness resulted in lower market trading liquidity with nearly 144 million shares in volume and 2.6 trillion VND (115.8 million USD) in value, decreases in both volume and value from the figures mad on June 27.-VNA
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