Speculative shares drive local market

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VN-INDEX

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Speculative shares drive local market

Vietnam News - 8/6/2015 9:29:33 AM

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Speculative shares yesterday played the role of hero on the national stock market, attracting attention from investors that drove both indices up to end a recent slump.

Foreign investors recorded a net buy value of VND36 billion (US$1.65 million) on both bourses.

The VN-Index on the HCM Stock Exchange added 6.32 points to finish at 607.08 with 187 gainers against 40 declining ones.

The index declined during the early half of the session, but suddenly increased in the afternoon on weaker selling and stronger buying activity.

Market liquidity rose slightly to VND1.89 trillion ($86.95 million) in value with a total 108.5 million shares exchanged.

Speculative codes attracted large money flows, including Ocean Group Joint Stock Company (OGC), FLC Group (FLC) and HAI Agrochem Joint Stock Company (HAI) - all hit their ceiling values.

Among these speculative shares, FLC was the most active with more than 8.6 million shares traded.

Large-cap shares also made modest gains to drive the market up. In the VN30, the 30 largest shares in terms of capitalisation and liquidity, 29 shares improved.

Bao Viet Holdings (BVH) and Ma San Group Corporation (MSN) recorded the best gains of VND2,000 and VND1,000, respectively.

Other key sectors like gas firms, banks and brokers also improved, helping the southern bourse.

Viet Nam Dairy Products Joint Stock Company (VNM) worried shareholders and potential investors, loosing VND21,000 – 18 per cent of its market value. The company advanced the first dividend of this year in cash and issued more shares to increase its equity yesterday.

On the Ha Noi Stock Exchange, the HNX Index went up 1.63 per cent to close at 84.53 points with higher market liquidity and more advancing shares.

The index had strong fluctuations throughout the day but made big gains at the session's close.

The northern bourse traded a total 44.8 million shares with a trading value of VND517 billion ($23.7 million), and the number of advancers nearly tripled that of losers.

Like the southern market, investors on the Ha Noi market also paid huge attention to speculative stocks such as KLF Joint Venture Global Investment (KLF) and FIT Investment JSC (FIT).

KLF topped the northern market yesterday with 5.6 million shares exchanged, followed by FIT and PVX.

Leading stocks on the market performed well during yesterday session. Petroleum Technical Services Corporation (PVS) rose by VND400, Asia Commercial Bank (ACB) and VNDirect Securities JSC (VND) gained VND300.

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