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HOSE swings upward while HATSC takes a hit
The upward momentum of the Ho Chi Minh Stock Exchange continued with the VN-Index closing at 444.4 points, up 9.76 points at the end of the July 29 session.
The VN-Index was up 2.25 percent, with 13.96 million shares changing hands. This figure represents a turnover of 406.63 billion VND (24.64 million USD).
IMP of Imexpharm rose at the maximum regulated trading band of 3 percent to 103,000 VND while VNM for Vinamilk rose 2.97 percent to 104,000 VND.
Stocks with good business results in the first half period continued drawing much attention from investors. However, they saw modest trading volume on July 29 as investors with those shares began holding on to them.
For example, DPM of Phu My Fertilisers saw 35.360 shares change hands, while STB of Sacombank had only 356,670 shares, in comparison with over 3 million STB shares traded on July 28.
Phuong Lan, an investor in Saigon Securities Inc who has 1,000 STB shares, said “The shares with good business performance are for long term investment as they’ll ensure good profit at the end of the year.”
She explained that the local economy has been experiencing a tough period which has impacted on local enterprises, including listed firms. Those firms with good performances in the first half proved their strong financial abilities which are expected to help them earn their targeted profits by the end of 2008.
“The investors with those shares won’t sell them at this time as they saw this benefit,” Lan concluded.
Foreign sectors on July 29 became the net-sellers with a total volume of 1.83 million shares.
Hanoi Securities Trading Centre on July 29 saw a downturn when HASTC-Index closed down 1.03 percent at 143.1. The northern market on July 29 saw 8 million shares traded, with a total turnover of 208.68 billion VND (12.64 million USD).
VNA
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