Business

Markets close on New Year high

Vietnamese stocks continued to add value at the closing of the final trading session before the beginning of the nine-day national Tet holiday.
Vietnamese stocks continued to add value at the closing of the finaltrading session before the beginning of the nine-day national Tetholiday.

A spate of listed companies, mostly blue chips, reported profit growth for the last fiscal year.

Companies, including Refrigeration Electrical Engineering (REE), theMasan Group (MSN), Tan Tao Investment (ITA), PetroVietnam DrillingServices (PVD) and PetroVietnam General Services (PET) announced profitgrowth of between 9 and 100 percent, ranging from 159 billion VND (7.5million USD) to 3.12 trillion VND (146.5 million USD).

PhaLai Thermalpower (PPC), reported a strong profit of 1 trillion VND (46.9million USD), despite its profit having dropped 36 percent.

On the HCM Stock Exchange, the VN-Index gained 0.44 percent to close at 587.24 points.

The total market turnover touched 1.2 trillion VND (56.3 million USD) on a volume of over 73.8 million shares.

Blue chips, particularly the 30 biggest stocks in terms ofcapitalisation and liquidity, helped the VN30 Index rise by 0.63 percentto 617.20 points.

Of these 30 stocks, the advancers outnumbered the decliners by 19 to 7.

Property developer FLC Group (FLC) was still the most active codewith more than 7.7 million shares changing hands. It rose 1.8 percent.

On the Hanoi Stock Exchange, the HNX-Index closed at 85.26 points, up 0.65 percent.

Its liquidity was pegged at 403.3 billion VND (18.9 million USD) and 32.16 million shares.

The HNX30, comprising of the northern bourse's 30 stocks, rose slightly by 0.54 percent to close at 165.18 points.-VNA
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