Business

Shares rise on VN-30 Index launch

Led by blue chips, shares on the HCM City Stock Exchange continued to rise on Feb.1, but profit-taking had a negative impact on the Hanoi bourse.
Led by blue chips, shares on the HCM City Stock Exchange continuedto rise on Feb.1, but profit-taking had a negative impact on the Hanoibourse.

In HCM City, the VN-Index concluded thesession at 390.67 points, up 0.7 percent over Jan 31's close. Tradingvolume remained unchanged compared to the previous session with 39.2million shares changing hands, but the value of trades rose 22 percentto 622.5 billion VND (29.6 million USD).

Transactions focused on shares announced on Jan. 30 to be included inthe basket used to calculate the new VN-30 Index, which will be rolledout on Feb. 6. These included real estate developer Hoang Anh Gia Lai(HAG), PetroVietnam Finance (PVF), Becamex Infrastructure Development(IJC), Tan Tao Investment Industry (ITA), Kinh Bac City Development(KBC) and Ocean Group (OGC).

Eight of the 10 leadingshares by capitalisation also posted gains, with only food processorMasan Group (MSN) closing off. Decliners pipped advancers by 110-109overall.

Lacking support from blue chips, shareseased on the Hanoi Stock Exchange, with the HNX-Index closing down by0.2 percent to 60.47. Both value and volume slumped by over 20 percent,with trades totalling 238.2 billion VND (11.3 million USD) on a volumeof 30.6 million shares. Losers outnumbered gainers by 147-95.

Foreign investors remained net buyers on both exchanges on Feb. 1,responsible for a combined net buy of 54.6 billion VND (2.6 million USD)worth of shares. /.
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