Insurance shares drive-up VN-Index

Insurance shares took the lead on the market on July 7 to drive the VN-Index on the HCM Stock Exchange to reach the benchmark of 630 points.
Insurance shares took the lead on the market on July 7 to drive theVN-Index on the HCM Stock Exchange to reach the benchmark of 630 points.

The VN-Index was up 0.81 percent to close July 7 session at630.27 points on a balanced performance with 113 gainers and 113decliners.

All insurance shares rose, with three hitting theceiling prices, including BIDV Insurance Corporation (BIC), Bao MinhInsurance Corporation (BMI) and Bao Viet Holdings (BVH).

The Bankfor Investment and Development of Vietnam (BIDV) and Vietinbank (CTG)received strong foreign purchases from the market and made gains of 5.53and 2.46 percent, respectively.

Other blue chips, including MaSan Group (MSN), Vietnam Dairy Products Joint Stock Corporation (VNM),Hoa Sen Group (HSG) and Southern Rubber Industry Joint Stock Company(CSM) also recorded significant gains in their market values.

However,the market growth was somehow held back by some large-cap shares. ThePetrovietnam Drilling and Well Service Corporation (PVD) dropped by 1.58percent while Vietcombank lost 0.92 percent on the market.

Securitiesshares – one of the four main shares on the market – extended theirlosses from the previous session. Two large-cap securities shares, HCMCity Securities Corporation (HCM) and Saigon Securities Incorporation(SSI), decreased.

FLC Group (FLC) was the most active code on themarket with more than 11 million shares traded. Japan Vietnam MedicalInstrument Joint Stock Company (JVC) continued to record a large tradingvolume with 10 million shares traded.

On the Hanoi StockExchange, the HNX-Index lost 0.03 percent to end at 89.44 points as mostgas and securities shares fell from the previous session.

Therewas no remarkable trading on the northern bourse on July 7, except thatHanoi Investment General Corporation (SHN) rose by 9.76 percent inmarket value to 13,500 VND per share and traded only 1 million shares.

FITInvestment JSC (FIT) was the most active code on the northern bourse,trading 6.7 million shares and gaining 2.36 percent to reach 13,000 VNDper share.

Overall, foreign investors slightly extended theirtotal buy value on the national stock market to 75 billion VND (3.47million USD). The market traded nearly 233.6 million shares worth 3.87trillion VND (179 million USD).-VNA

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