Business

Gold spike distracts wary investors

The performance of a few blue chips helped prop up the HCM Stock Exchange again July 14, lifting the VN-Index to a close of 418.93 points – a gain of 0.18 percent over the previous day's close.
The performance of a few blue chips helped prop up the HCM StockExchange again July 14, lifting the VN-Index to a close of 418.93 points– a gain of 0.18 percent over the previous day's close.

Among the 10 leading shares by capitalisation, insurer Bao Viet Holdings(BVH), PetroVietnam Finance (PVF) and Vietcombank (VCB) all rose totheir ceiling prices, while real estate developer Hoang Anh Gia Lai(HAG) and Phu My Fertilisers (DPM) both closed up 1.4 percent.

Others declined, however, with developer Vincom (VIC) down 4 percentand software giant FPT, Sacombank (STB), Vinamilk (VNM) and steelmakerHoa Phat Group (HPG) all off by less than 1 percent.

Onthe HCM City market overall, trades were sluggish and mixed, withdecliners edging advancers by 101-95 overall. The volume of tradesdeclined 18 percent from July 13's level, reaching just 59.8 billion VND(22.3 million USD) on a volume of nearly 24 million shares.

On the Hanoi Stock Exchange, the HNX-Index lost 0.1 percent to close at71.88 points. The value of trades totalled a very anaemic 216 billionVND (10.5 million USD) on a volume of only 19.6 million share.

Losers outnumbered gainers by 128-101, while Kim Long Securities Co(KLS) was again the most-active stock nationwide, closing unchangedafter nearly 2.6 million shares changed hands./.
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