Vietnamese shares tumbled on October 10, but the two indices still added value compared with the previous week.
Someleading stocks, notably PetroVietnam Gas (GAS), spearheaded the rally.GAS increased strongly following news that its mother company,PetroVietnam, discovered the country's largest gas field in the centralcoast.
In addition, the oil giant's other subsidiaries alsoposted gains. However, unlike in previous trading days, the rally ofthese stocks did not attract enough attention to move the entire marketforward.
Transactions on speculative stocks last week were lessactive as a result of increasing selling pressure, sparking more cautionfrom investors. On October 10, profit-taking was widespread, knockingblue chips down, and the indices declined rapidly.
The VN-Indexat the Hochiminh Stock Exchange increased by one percent over theOctober 3 session to end at 617.72 points. Transaction value averaged2.95 trillion VND (139.1 million USD) on a daily volume of 170.5 millionshares.
Top gainers in HCM City included Thong Nhat Production and Investment (GTN), H.A.I Agrochem (HAI) and Viet Nhat Seafood (VNH).
GTN,which debuted on October 3, jumped up by 38.1 percent after itannounced the sale of nearly 16 percent of Thong Nhat Co Ltd worth 27billion VND (1.2 million USD). HAI climbed by 20.4 percent as itannounced plans of increasing its charter capital from 174 billion VND(8.2 million USD) to 1 trillion VND (47.1 million USD).
Meanwhile,VNH rose by 17.4 percent. Although the company did not release anyimportant information and the increase in its share price was minimal,the trading of shares in seafood companies in general remained active.
Meanwhile,the HNX-Index at the Hanoi Stock Exchange inched up by 0.14 percent to90.45 points. The average value and volume of trades reached 1.1trillion VND (51.8 million USD) and 79.1 million shares.
The topgainer in the northern bourse was Hanoi Milk (HNM), which surged by 54percent in spite of the absence of any special news about the company.
Foreigninvestors continued to be net sellers on both bourses, unloading atotal margin of nearly 248 billion VND (11.6 million USD). Theiractivities affected the VN-Index only on several first sessions lastweek and had minimal impact towards the end of the week. In the capitalcity, sales did not target leading shares.-VNA
Someleading stocks, notably PetroVietnam Gas (GAS), spearheaded the rally.GAS increased strongly following news that its mother company,PetroVietnam, discovered the country's largest gas field in the centralcoast.
In addition, the oil giant's other subsidiaries alsoposted gains. However, unlike in previous trading days, the rally ofthese stocks did not attract enough attention to move the entire marketforward.
Transactions on speculative stocks last week were lessactive as a result of increasing selling pressure, sparking more cautionfrom investors. On October 10, profit-taking was widespread, knockingblue chips down, and the indices declined rapidly.
The VN-Indexat the Hochiminh Stock Exchange increased by one percent over theOctober 3 session to end at 617.72 points. Transaction value averaged2.95 trillion VND (139.1 million USD) on a daily volume of 170.5 millionshares.
Top gainers in HCM City included Thong Nhat Production and Investment (GTN), H.A.I Agrochem (HAI) and Viet Nhat Seafood (VNH).
GTN,which debuted on October 3, jumped up by 38.1 percent after itannounced the sale of nearly 16 percent of Thong Nhat Co Ltd worth 27billion VND (1.2 million USD). HAI climbed by 20.4 percent as itannounced plans of increasing its charter capital from 174 billion VND(8.2 million USD) to 1 trillion VND (47.1 million USD).
Meanwhile,VNH rose by 17.4 percent. Although the company did not release anyimportant information and the increase in its share price was minimal,the trading of shares in seafood companies in general remained active.
Meanwhile,the HNX-Index at the Hanoi Stock Exchange inched up by 0.14 percent to90.45 points. The average value and volume of trades reached 1.1trillion VND (51.8 million USD) and 79.1 million shares.
The topgainer in the northern bourse was Hanoi Milk (HNM), which surged by 54percent in spite of the absence of any special news about the company.
Foreigninvestors continued to be net sellers on both bourses, unloading atotal margin of nearly 248 billion VND (11.6 million USD). Theiractivities affected the VN-Index only on several first sessions lastweek and had minimal impact towards the end of the week. In the capitalcity, sales did not target leading shares.-VNA
