Business

Stock market holds onto Friday's gains

Shares were able to maintain last Friday's gains during the week’s first session on Dec. 19 on the HCM Stock Exchange, with the VN-Index adding another 0.4 percent before closing at 367.40 points.
Shares were able to maintain last Friday's gains during the week’s firstsession on Dec. 19 on the HCM Stock Exchange, with the VN-Index addinganother 0.4 percent before closing at 367.40 points.


Thevalue of trades eased from the previous session to 613.5 billion VND (29million USD) while the volume of trades plunged by nearly 43 percent to37.3 million shares.


Decliners edged out advancers by126-92, with blue chips also mixed. Vietinbank (CTG) and Vietcombank(VCB) hit their ceiling prices, but Phu My Fertiliser (DPM), steelmakerHoa Phat (HPG), Sacombank (STB) and property developer Vincom (VIC) allretreated.


Notably, PetroVietnam Finance (PVF) dropped below its face value, declining to only 9,000 VND per share.


Financial group Tan Tao (ITA) led the HCM City market in volume, with around 1.3 million shares change hands.


Onthe Hanoi Stock Exchange, the HNX-Index also held onto gains, edging up0.6 percent to 60.19 points. Value declined by 9.7 percent from theprevious session, however, to just 230.2 billion VND (10.9 million USD).Volume totalled 26.6 million shares.


VNDirect Securities Co (VND) was the most-active share nationwide, with nearly 2.9 million traded.


ThangLong Securities Co deputy director Quach Manh Hao told a conference inHCM City on Dec. 18 that the market could recover early next yearand discounted concerns that about 25 trillion VND (1.2 billion USD) inforeign investment has recently been withdrawn from the market.


"A Japanese investment fund is planning to divest, but there will be many others to come," Hao said./.
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