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Index gets boost ahead of holiday
The VN-Index managed to post a gain in yesterday's session, picking up 0.64 per cent to end the day at 315.71, with advancers outnumbering decliners by 109 to 35.
Market volume rose slightly, to 21.2 million shares worth VND526.3 billion (US$29.6 million), compared to Monday's volume of 20.7 million. Foreign investors helped drive up volume, as they accounted for 2.8 million transactions and a net buy of 1.2 million shares.
Sacombank returned to its familiar position as the most heavily-traded share, with nearly 3 million shares changing hands, representing 14 per cent of total market volume.
"Investors are trying to buy ahead of the holidays," said Hoang Thuy Quan, a broker at a Ha Noi-based securities firm, who added that buy orders were concentrated mostly in stocks of firms that had reported strong first-quarter earnings.
However, he noted, the domestic market had also begun tracking regional markets, in which the outbreak of swine flu had caused a slump in aviation shares and a rebound in healthcare stocks.
"I think the healthcare sector will gain substantially from this," said Saigon Securities Inc (SSI) investor Nguyen Toan. But SSI investor Nguyen Dinh Hoa also worried that the flu could feed a renewed hesitation in all securities investments, restraining the movement of market indices.
Viet Nam International Securities Co said in a report issued on Monday that a new influx of capital could be injected into the nation's stock market, if the VN-Index climb consistently beyond 322 points.
In Ha Noi yesterday, the HASTC-Index yesterday bounced back by 2.41 per cent to end the session at 111.95 points. About 13.3 million shares were traded, generating a value of VND305.1 billion ($17.1 million). Asia Commercial Bank (ACB) and Kim Long Securities (KLS) led trading with 2.2 million shares each.
VietNamNet, Viet Nam News
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