Business

Buoyant blues bolster belief in both bourses

Shares rose on Aug. 25 on the Ho Chi Minh Stock Exchange, with the VN-Index closing up 1.25 percent on 401.65 points, led by the rebound of blue chips.
Shares rose on Aug. 25 on the Ho Chi Minh Stock Exchange, with theVN-Index closing up 1.25 percent on 401.65 points, led by the rebound ofblue chips.

Domestic gold prices declined by another 2 million VND (95 USD) per taelto 45.5 million VND (2,167 USD), with one tael being equivalent to 1.2ounces.

Seven of the 10 largest shares led by marketcapitalisation posted gains, of which property developer Vincom (VIC)was up 4 percent, PetroVietnam Finance (PVF) rose 2.4 percent,Vietinbank (CTG) increased 2 percent while others rose from 0.3-1.8percent.

Gainers outnumbered losers by 133-80 overall.

Market value increased slightly to over 505.8 billion VND (24.3 million USD), with more than 30 million shares changing hands.

Refrigeration Electrical Engineering Corp (REE), with 2.19 millionshares exchanged, became the most active stock. REE hit the daily limitof 5 percent to close at 11,600 VND (0.56 USD) a share.

Onthe Hanoi Stock Exchange, the HNX-Index gained nearly 1 percent tofinish at 69.75 points on Aug. 25. Trading value improved slightly to447.7 billion VND (21.5 million USD) on a volume of 49.7 million shares.

Advancers inched up decliners by just 117-108.

Brokerage house Kim Long's (KLS) stocks remained the mostheavily-traded nationwide with over 7.3 million shares changing hands,even though it lost 2.6 percent to close at 11,400 VND (0.55 USD).

Foreign investors became more confident, picking up a combined net buyof 89.5 billion VND (4.3 million USD) worth of shares across bothbourses./.
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