Business

Shares up on soaring volumes

The VN-Index rose by 0.9 percent on March 4 to close at 511.91, as trading volume on the Ho Chi Minh Stock Exchange soared to a three month record high of over 50 million shares, worth a combined 2.3 trillion VND (121 million USD).
The VN-Index rose by 0.9 percent onMarch 4 to close at 511.91, as trading volume on the Ho Chi Minh StockExchange soared to a three month record high of over 50 million shares,worth a combined 2.3 trillion VND (121 million USD).

Saigon Securities Inc (SSI) was the most-active share on the day, withover 2.3 million traded, after the company announced on March 3 that itwould sell 11,270 repurchased shares to correct a trading error onDecember 25 last year.

Sales of over 300,000 SSI shares by foreign investors on March 4 werean additional factor in driving up volume in this code.

High volumes on March 4 were a signal of a market revival, wrote VNDirect Securities Co analysts in a report.

“The VN-Index will hold at above 510 this week,” they wrote, noting that a floor of 500 points seemed solid.

On the Hanoi Stock Exchange , the HNX-Index fell by nearly 1.1 percentto a close of 168.36 points, as activities actually declined from March3’s total to just 29.5 million shares, worth a total of 984.7 billionVND (51.8 million USD).

The heaviest-traded share continued to be Kim Long Securities Co (KLS), which saw a volume of 4.8 million shares./.
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