Business

Local traders give indices boost

Although foreign investors increased offloads of shares on August 13, heavy buying of domestic investors helped lift stock indices on the two exchanges.
Although foreign investors increased offloads of shares on August 13,heavy buying of domestic investors helped lift stock indices on the twoexchanges.

On the Hochiminh Stock Exchange, the benchmarkVN-Index inched 0.16 percent to close August 13 session at 602.76 pointsas the advancers doubled the losing stocks.

Liquidity improvedwith the market value rising 30 percent over the previous session,totaling 1.84 trillion VND (87.2 million USD) while the market volumeclimbed 20 percent to nearly 96 million shares and fund certificates.

Trading focused on blue chips with trading value accounting for more than 60 percent of total market.

Companieswhich posted positive business results included Vietcombank (VCB) andHCM City Infrastructure Investment Co (CII), while those expectinggrowth from the Mid-Autumn festival, like confectionery maker Kinh DoCorporation (KDC), gained.

Twenty of the top 30 stocks with thehighest market value and liquidity advanced while six declined, liftingthe VN30 Index up 0.81 percent to end at 645.17.

Slumping large-cap shares like Masan Group (MSN), PV Gas (GAS) and VinGroup (VIC) curbed market growth.

FLCGroup (FLC) remained the most active stock with nearly 14 millionshares changing hands, but the share price still managed to sink 2.84 tofinish at 13,700 VND per share.

Foreign investors were net sellers, responsible for a total net sell of more than 202 billion VND (9.6 million USD).

On the Hanoi Stock Exchange, the HNX-Index rose to a four-month high of 81.82 points, up 1.68 percent from August 12.

TheHNX30, which tracks the top 30 shares by market value and liquidity onthe exchange, also climbed 2.45 percent to stand at 165.44 points.

Moneyflowed into oil companies like PetroVietnam Construction Corp (PVX),PetroVietnam Technical Services Corp (PVS), PetroVietnam EngineeringConsultancy Co (PVE) and PetroVietnam Drilling Mud Co (PVC), rallyingtheir share prices.

There were minor changes to trading volumefrom the previous session, totaling more than 66 million shares, but thevalue of trades fell 20 percent to 904 billion VND (42.8 million USD).

Incontrast to the southern bourse, foreign investors concluded as netbuyers in Hanoi, picking up shares worth 29.5 billion VND (1.4 millionUSD).-VNA
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