On the HCM City Stock Exchange, the VN-Index closed 0.45 per centhigher on August 2 at 494.66 points with advancers doubling decliners.
Trading remained dry with 26.3 million shares worth 491 billion VND(23.4 million USD) changing hands during the session, down 16.5 percentin volume and 20 percent in value compared with a day earlier.
Thepower price hike had no impacts on major shares, with trading in the top30 shares by market capitalisation and liquidity accounting for overhalf of the total market value at 297 billion VND (14.1 million USD).
The VN30 also increased 0.37 percent to 545.59 points.
Shares in power companies which gained value on August 1 following thenews of the electricity price hike started to decline on August 2.
Khanh Hoa Power (KHP) fell 0.8 percent while thermal power companiesPha Lai (PPC) and Ba Ria (BTP) lost 0.43 percent and 0.65 percent,respectively.
According to stock analysts at BIDV Securities Co.,the increase in power prices would not immediately affect the profits ofelectricity companies as they are stuck in contracts with theElectricity of Vietnam. However, risk-taking investors might be temptedby reliable power firms.
A member of the VN30, RefrigerationElectrical Engineering Corp. (REE), was the most active code on August 2with 2.5 million shares traded valued at 25,700 VND (1.22 USD) each.
On the Hanoi Stock Exchange, the HNX-Index also climbed 0.94 percent toclose on 62.20 points, but the value of trading declined 28 percentfrom August 1 to just 80.6 billion VND (3.8 million USD).
PetroVietnam Construction (PVX) was the most active code with 1.2million shares changing hands, the only stock to break the 1 millionmark. PVX rose 2.2 percent to 4,600 USD.
Rising inflation isexpected in August following price rises in gas, electricity andhealthcare services. Stock analysts at PV Securities Co. said ifinflation jumped, it would have a negative impact on domestic demand andreduce purchasing power.
Foreign investors concluded on August 2as net buyers on both markets, picking up shares worth a combined 25.6billion VND (1.2 million USD).-VNA