Stock market see slight improvement
Stocks recovered slightly on Oct. 23 on both national stock
exchanges, but trading continued to decline as investors wait for the
results of the ongoing National Assembly meeting.
Stocks recovered slightly on Oct. 23 on both national stock exchanges, but trading continued to decline as investors wait for the results of the ongoing National Assembly meeting.
News on the outcome of the meeting is highly anticipated as NA deputies are expected to adopt a new socio-economic development plan, along with making announcements on the State budget and central budget allocation for 2013.
On the HCM Stock Exchange, the VN-Index rose just 0.18 percent to close at 397.71 points but trading value decreased 35 percent from the previous session, totalling 475.3 billion VND (22.6 million USD).
Negotiated transactions continued to build up, reaching 195 billion VND (9.3 million USD), led by trades on Eximbank (EIB) shares. Another 8.77 million EIB shares, worth 145 billion VND (6.9 million USD), were traded through negotiations on Oct. 23.
However, Tan Tao Investment Industry (ITA) was still the most active code with over 4.8 million shares changing hands, but the shares slumped for three days in a row, losing another 4.4 percent to a close of 4,300 VND a share.
Stocks losing value were mostly companies announcing surprisingly poor business results, including ITA, telecom equipment maker Sacom Development and Investment (SAM) and PetroVietnam Low Pressure Gas Distribution (PGD).
Most blue chips on the southern bourse closed flat on Oct. 23 while only steelmakers Hoa Sen Group (HSG) and Hoa Phat Group (HPG) and PetroVietnam Finance (PVF) closed higher from 1.7-3.4 percent.
The VN30, tracking performance of the top 30 shares on the bourse, was up slightly to stand at 469.82 points.
On the Hanoi Stock Exchange, the HNX-Index also gained 0.39 percent to close at 54.56 points on a lower value of over 126 billion VND (6 million USD).
PetroVietnam Construction (PVX) was again the most active code on the northern bourse but the trading volume was half of the previous trading day with just 1.94 million shares changing hands. The shares closed 2.3 percent up at 4,500 VND per unit.
Foreign investors picked up shares worth 12.5 billion VND (600,000 USD) on Oct. 23 on both exchanges.-VNA
News on the outcome of the meeting is highly anticipated as NA deputies are expected to adopt a new socio-economic development plan, along with making announcements on the State budget and central budget allocation for 2013.
On the HCM Stock Exchange, the VN-Index rose just 0.18 percent to close at 397.71 points but trading value decreased 35 percent from the previous session, totalling 475.3 billion VND (22.6 million USD).
Negotiated transactions continued to build up, reaching 195 billion VND (9.3 million USD), led by trades on Eximbank (EIB) shares. Another 8.77 million EIB shares, worth 145 billion VND (6.9 million USD), were traded through negotiations on Oct. 23.
However, Tan Tao Investment Industry (ITA) was still the most active code with over 4.8 million shares changing hands, but the shares slumped for three days in a row, losing another 4.4 percent to a close of 4,300 VND a share.
Stocks losing value were mostly companies announcing surprisingly poor business results, including ITA, telecom equipment maker Sacom Development and Investment (SAM) and PetroVietnam Low Pressure Gas Distribution (PGD).
Most blue chips on the southern bourse closed flat on Oct. 23 while only steelmakers Hoa Sen Group (HSG) and Hoa Phat Group (HPG) and PetroVietnam Finance (PVF) closed higher from 1.7-3.4 percent.
The VN30, tracking performance of the top 30 shares on the bourse, was up slightly to stand at 469.82 points.
On the Hanoi Stock Exchange, the HNX-Index also gained 0.39 percent to close at 54.56 points on a lower value of over 126 billion VND (6 million USD).
PetroVietnam Construction (PVX) was again the most active code on the northern bourse but the trading volume was half of the previous trading day with just 1.94 million shares changing hands. The shares closed 2.3 percent up at 4,500 VND per unit.
Foreign investors picked up shares worth 12.5 billion VND (600,000 USD) on Oct. 23 on both exchanges.-VNA
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