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Stocks rise on the back of large cap recovery
The Ho Chi Minh Stock Exchange regained some grounds on Wednesday over heavy buying on large caps.
The VN-Index gained 2.9, or 1.2 percent, to close at 244.36. Of the index members, 114 rose, 31 dropped and 29 were unchanged. Turnover decreased from 8.85 million shares to 7.5 million.
Many large caps – such as PetroVietnam Fertilizer and Chemical (DPM), software developer FPT Corp. (FPT), Saigon Securities Inc. (SSI) and Vinamilk (VNM) were among today’s winners.
Da Nang Plastic Joint-Stock Co. (DPC), a plastics producer, rose for a second day, adding 4.7 percent to VND8,900. Chief Executive Officer Tran Quang Dung will start buying 50,000 shares to raise his holdings to 57,690 shares, or 2.6 percent of the company, an exchange filing its Web site said yesterday.
Savimex Economic Cooperation & Import-Export Joint-Stock Co. (SAV), a furniture exporter, rallied 2 percent to VND15,000. The Ho Chi Minh City-based firm, also known as Savimex, bought back 200,000 shares and will buy another 200,000, the exchange said in its bulletin today.
Vietnam Petroleum Transport Joint-Stock Co. (VIP), a operator of oil tankers and barges known as Vipco, advanced 3.5 percent to VND9,000. Vipco is targeting a 19 percent increase in 2009 profit as it starts three new property projects and buys two new ships to expand operation capacity.
Cadovimex Seafood Import-Export Company Joint-Stock Co. (CAD), a processor and trader of seafood, gained 4.2 percent to VND7,400. Chief Executive Officer Pham Thi Huong bought 25,000 shares and will buy 10,000 more starting tomorrow to increase her holdings to 0.54 percent from 0.1 percent, according to the exchange’s Web site.
The smaller bourse in Hanoi also posted a positive move, with the HaSTC-Index edging up 0.91 percent to close at 82.5.
sai gon giai phong
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