Stocks rally despite inflation woes
Stock indices rallied on Nov. 23 despite concerns that news of rising inflation rates would depress trading.
Stock indices rallied on Nov. 23 despite concerns that news of rising inflation rates would depress trading.
On the HCM Stock Exchange, the VN-Index gained 1.08 percent to close at 430.81 points. Trading volume, however, fell 16.1 percent from Nov. 23 to 24.6 million shares, worth a total of 544.4 billion VND (26.1 million USD).
Blue chips advanced, with steel producer Hoa Phat Group (HPG) up 2.41 percent, financial conglomerate Ocean Group (OGC) up 1.89 percent, Phu My Fertilisers (DPM) up 1.72 percent, software giant FPT Corp (FPT) up 1.45 percent, and real estate developer Hoang Anh Gia Lai (HAG) up 1.3 percent.
Sacombank (STB) continued as the most-active stock, with 1.7 million traded.
Viet An Co (AVF), which specialises in the breeding and processing of tra and basa fish, listed 22.5 million shares on the HCM City bourse on Nov. 22. Its products are exported to the US , EU and Australia . In the first eight months of this year, it saw earnings of 40 million USD, against 62 million USD for the whole of last year.
Last year, the An Giang-based company posted a net profit of almost 75 billion VND (3.57 million USD) and has topped that figure in the first nine months of this year, at 76.7 billion VND (3.65 million USD).
Total profit by the end of this year was expected to reach 108 billion VND (5.14 million USD).
Foreign investors currently represent over 4.5 percent of the company’s 225 billion VND (11 million USD) in charter capital.
The company operates two processing factories which can handle 250 tonnes of fish daily and plans to build a new 200 billion VND facility in the Mekong Delta with a capacity of 150 tonnes per day when it begins operations in 2011.
AVF shares closed their first trading day at 26,000 VND, up 1,000 VND per share the reference price of 25,000 VND.
On the Hanoi Stock Exchange on Nov. 23, the HNX-Index bounced back by 1.2 percent to close at 99.05 points. Volume was down 10.1 percent from Nov. 22 to 25 million shares, worth 428.8 billion VND (20.1 million USD).
Half of the ten leading shares by capitalization advanced, including Kim Long Securities Co (KLS), up 1.8 percent; Petrolimex Chemical Co (PLC), up 1.75 percent; Asia Commercial Bank (ACB), up 1.32 percent; PetroVietnam Construction (PVX) – the most heavily-traded stock, with a volume of 1.7 million shares – up 1.11 percent.
Habubank (HBB) on Nov. 23 became the latest bank to list on the Hanoi exchange HBB closed just off the opening reference price of 10,000 to 9,700 VND per share on a volume of just over one million./.
On the HCM Stock Exchange, the VN-Index gained 1.08 percent to close at 430.81 points. Trading volume, however, fell 16.1 percent from Nov. 23 to 24.6 million shares, worth a total of 544.4 billion VND (26.1 million USD).
Blue chips advanced, with steel producer Hoa Phat Group (HPG) up 2.41 percent, financial conglomerate Ocean Group (OGC) up 1.89 percent, Phu My Fertilisers (DPM) up 1.72 percent, software giant FPT Corp (FPT) up 1.45 percent, and real estate developer Hoang Anh Gia Lai (HAG) up 1.3 percent.
Sacombank (STB) continued as the most-active stock, with 1.7 million traded.
Viet An Co (AVF), which specialises in the breeding and processing of tra and basa fish, listed 22.5 million shares on the HCM City bourse on Nov. 22. Its products are exported to the US , EU and Australia . In the first eight months of this year, it saw earnings of 40 million USD, against 62 million USD for the whole of last year.
Last year, the An Giang-based company posted a net profit of almost 75 billion VND (3.57 million USD) and has topped that figure in the first nine months of this year, at 76.7 billion VND (3.65 million USD).
Total profit by the end of this year was expected to reach 108 billion VND (5.14 million USD).
Foreign investors currently represent over 4.5 percent of the company’s 225 billion VND (11 million USD) in charter capital.
The company operates two processing factories which can handle 250 tonnes of fish daily and plans to build a new 200 billion VND facility in the Mekong Delta with a capacity of 150 tonnes per day when it begins operations in 2011.
AVF shares closed their first trading day at 26,000 VND, up 1,000 VND per share the reference price of 25,000 VND.
On the Hanoi Stock Exchange on Nov. 23, the HNX-Index bounced back by 1.2 percent to close at 99.05 points. Volume was down 10.1 percent from Nov. 22 to 25 million shares, worth 428.8 billion VND (20.1 million USD).
Half of the ten leading shares by capitalization advanced, including Kim Long Securities Co (KLS), up 1.8 percent; Petrolimex Chemical Co (PLC), up 1.75 percent; Asia Commercial Bank (ACB), up 1.32 percent; PetroVietnam Construction (PVX) – the most heavily-traded stock, with a volume of 1.7 million shares – up 1.11 percent.
Habubank (HBB) on Nov. 23 became the latest bank to list on the Hanoi exchange HBB closed just off the opening reference price of 10,000 to 9,700 VND per share on a volume of just over one million./.
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