Business

Market value, volume rebound

Stocks recouped the previous day's losses across the nation on Feb. 7 on improved trading volume and value.
Stocks recouped the previous day's losses across the nation on Feb. 7 on improved trading volume and value.

On the HCM Stock Exchange, the benchmark VN-Index finished at 401.08points, an increase of 0.34 percent from the previous session. Marketvalue grew 24.4 percent to reach 531.4 billion VND (25.3 million USD),while the volume of trades rose over 12 percent to 37 million shares.

The VN-30 Index, which tracks the movements of the 30 leading shares bymarket capitalisation and liquidity, also rose 0.41 percent to close at449.31. Trading value on those 30 stocks, accounting for 57 percent oftotal market value on the HCM City bourse, totalled over 302 billion VND(14.4 million USD).

Insurer Bao Viet Holdings (BVH) andVietinbank (CTG) hit their ceiling prices, but food producer Masan Group(MSN), property developers Vincom (VIC) and Hoang Anh Gia Lai (HAG),and steelmaker Hoa Phat Group (HPG) lost from 0.5-2.1 percent.

Other heavyweight codes Sacombank (ST), Vinamilk (VNM) and Eximbank(EIB) closed unchanged, of which the latter was the most active with4.24 million shares changing hands.

On the Hanoi StockExchange, the HNX-Index climbed 1.69 percent to close at 62.53 points,with advancers edging decliners by 136-103.

Trading valuegrew by 15 per cent over Feb. 6 to almost 328.3 billion VND (15.6million USD) on a volume of 38.3 million shares.

PetroVietnam Construction (PVX) and VNDirect Securities (VND) saw theheaviest trades with over 5 million shares changing hands for each code.VND hit its ceiling at 8,100 VND, while PVX also rose 4.9 percent toclose at 8,600 VND.

Vietnam's market outlook was stillpositive, but investors should wait until inflation fell to below 12percent, when a sustainable rally would be formed, to buy shares, saidKim Eng Securities Co's head of research and analysis Michael Kokalari.

However, the rapid increase of the stock market in recent weeks mightsimply be a technical recovery after a long period declining, he added.

Kokalari also recommended investment in shares of the sectors thatcould help boost economic growth such as consumer goods, informationtechnology and agriculture./.
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