Shares rebound on stronger volume

September 1, 2010 at 08:51:54

Trading volume on the HCM Stock Exchange on August 31 leapt by 64percent over August 30's session to a total of 54.2 million shares,helping lift the VN-Index to close at 455.08 points, a gain of 2.37percent on the day.

The value of August 31'strade on the HCM City bourse rose back above the 1 trillionVND-level to 1.46 trillion VND (74.8 million USD).

Saigon Securities Inc (SSI) claimed the position as most-active shareduring the session, responsible for 3.35 million trades. SSI reachedits ceiling price, closing up 4.87 percent to 28,000 VND per share.

Financial shares in general led the market increase, gaining 4.9percent across the board. Petroleum shares followed, with an overallgain of 4.6 percent, while communications stocks also performedstrongly, picking up 3.9 percent.

On the HanoiStock Exchange, the HNX-Index also rose by 2.8 percent to close at128.40 points, with the volume of trades reaching 45.8 million shares –double August 30's figure.

The value of tradeson the northern bourse reached 1 trillion VND (51.3 million USD), withPetroVietnam Construction (PVX) leading trades on a volume of 9.7million shares.

Foreign investors picked up anet of 4.5 million shares on both exchanges, worth a total of 207billion VND (10.6 million USD). Their buy-in focused mostly on bluechips, including shares of real estate developers Hoang Anh Gia Lai(HAG) and Hoa Phat Group (HAG), as well as of Tan Tao Industrial ParkInvestment &Development (ITA).

VN&Indexon August 30 quoted a representative from the State Bank that therewould be some changes in the provisions of Circular No13 which setsstricter capital adequacy requirements for banks, although the deadlinewould not be extended./.

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