Business

City index ends week on a high

Strong investor confidence continued to sustain trades on the Ho Chi Minh Stock Exchange on July 4, but profit-taking drove down shares on the Hanoi bourse.
Strong investor confidence continued to sustain trades on the Ho ChiMinh Stock Exchange on July 4, but profit-taking drove down shares onthe Hanoi bourse.

In Ho Chi Minh City , the VN-Index added4.33 points or 0.74 percent to close the session at 589.35 points asadvancers outnumbered decliners by 118-79 and 103 stocks tread water.

Growth of major shares like Vinamilk (VNM), PV Gas (GAS),VinGroup (VIC) and Bao Viet Holdings (BVH) helped lift the index.

VNM climbed 2.36 per cent to 130,000 VND (6.16 USD) a share while BVHjumped 3.12 percent to 42,900 (2.03 USD), VIC increased 1.53 percent andGAS went up 0.9 percent.

The VN30, tracking the top 30 shares by market value and liquidity, also rose 0.61 percent to end at 631.02 points.

Trading was bullish with market value up 25 percent from the previoussession, totaling over 2.5 trillion VND (118.5 million USD) on trades ofnearly 133 million shares.

Realty stocks continued to drawinvestors. Four of the five most active codes were from this sector. FLCGroup (FLC) replaced Tan Tao Investment Industry Corp (ITA) as the mostheavily-traded stock, with 16.6 million shares exchanged, but the shareprice slipped 0.81 percent to close at 12,200 VND per share.

On the Hanoi Stock Exchange, the HNX-Index gave up 0.27 percent to endat 79.44 points, The HNX30 saw a 0.58 percent decline, closing at 161.38points.

Market conditions were overall positive, however, with 108 stocks rising, 90 tumbling and 160 closing flat.

According to analysts, many investors decided to take margins despitepredictions driven by optimistic economic data that the current rallywould continue.

Trading was sluggish as both market volume andvalue fell 50 percent from July 3, totaling 66.4 million shares worth686.4 billion VND (32.5 million USD).

Saigon Thuong Tin RealEstate Co (SCR) was the most active code on the northern bourse with 8.3million shares traded, rising 3.37 percent to 9,200 VND a share.

Foreign investors increased their buys on July 4 on both exchanges andwere responsible for a combined net buy value of nearly 116 billion VND(5.5 million USD).-VNA
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