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Stocks move up for third straight session
Ho Chi Minh City stocks put on a spurt Tuesday after two days of marginal gains, as investors bought blue chips.
The VN-Index rose 2.51 percent to close at 316.32 points. Trading volume was sharply up from Tuesday’s 8.5 million shares at 15 million.
Of the index’s members, 129 advanced while only 23 declined.
“The market moved up on the back of upward moves by blue chips like Hoang Anh Gia Lai (HAG), Sudico (SJS) and Vinpearl (VPL),” said Nguyen Hai Son, a broker at FPT Securities Co.
Son said the market rose on expectations of the proposed capital gains tax being deferred and a boost to investor confidence from the fact that foreign investors have turned buyers recently.
Nguyen Quang Hieu of Sacombank Securities Company’s financial analysis department expects the winning run to come to an end today because of the “pre-holiday affect,” which sees investors sell heavily at the end of the year. The HCMC exchange will close tomorrow for the New Year.
Foreign investors remained net buyers, pumping in VND31 billion (US$1.8 million).
Stocks performance
FPT Corp. (FPT), a Hanoi-based software developer, rose by VND1,900, or 3.91 percent, to close at VND50,500. The firm said in an email Tuesday that its revenue this year reached $1 billion.
FPT also said on the exchange’s website that chief accountant Nguyen The Phuong registered to sell 30,000 shares to cut his stake to 41,013 shares.
Vinpearl Tourism and Trading Joint Stock Co. (VPL) rose VND3,000, or 4.76 percent, to close at VND66,000. Pham Thu Huong, wife of board member Pham Nhat Vuong, will raise her holding to 8.3 million shares by buying 5 million shares, according to a report on the exchange’s website.
Thu Duc Housing Development Corp. (TDH) gained VND500, or 1.76 percent, to close at VND28,900. Le Chi Hong Hanh, sister of chairman Le Chi Hieu, would gift 25,740 of her 34,320 shares to Hieu’s son today, the exchange said on its website.
Hoang Uy
thanhnien
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