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Index rises slightly on mixed trading
The VN-Index yesterday increased 0.6 per cent on mixed trading to close at 494.17 points on the HCM City Stock Exchange.
The value of the day’s trades reached VND1.85 trillion (US$104 million) on a volume of 48.8 million shares. Sacombank again proved the most active on the southern exchange with 3.7 million shares traded.
While financial and banking shares saw strong sales, shares in real estate, confectionery, steel and seafood picked up significantly, reported FPT Securities Co.
Hoa Phat Group, Kinh Do Corp and An Giang Fisheries each hit highs on the day.
Shares of the Southern Rubber Industry Joint Stock Co hit the ceiling of their regulated trading band to close at VND50,000 ($2.8) per share on their HCM City market debut yesterday.
On the Ha Noi Stock Exchange, the HNX-Index closed up 0.82 per cent to 156 points on a trading volume of 25.3 million shares and a revenue of VND799.2 billion ($44.9 million). Kinh Bac Urban Development Co was the most active on the northern bourse with 1.9 million shares changing hands.
Pham Thanh Thai Linh, deputy director of the Bao Viet Securities Co analysis department, said the company was optimistic about market prospects during the rest of the year, with improvement in the economy and businesses’ performance.
Linh said the Purchasing Managers’ Index in many countries had significantly improved, now nearing 50, a level he said proved firms were expanding production and promised economic rallies. The index was only about 42-43 during the last period of crisis.
The Purchasing Managers’ Index is an indicator of the economic health of the manufacturing sector. It is based on five major indicators: new orders, inventory levels, production, supplier deliveries and the employment environment.
Domestic corporate results were satisfactory in the third quarter and expected to further improve in the fourth, he said, while credits were growing strongly, now at about 22 per cent.
Linh added sectors that would most rapidly rally when the economy recovered were manufacturing, basic materials, banking and finance, real estate and consumption.
But he noted that demand on the domestic stock market now still lagged behind supply, which increased significantly recently with the participation of major players such as Vietcombank, Vietinbank and Bao Viet Holdings.
In HCM City yesterday, foreign investors finished the day as net sellers of about 175,000 shares but were net buyers by value of VND4.2 billion ($236,000), on an overall volume of 4.8 million shares.
In Ha Noi, foreigners were responsible for a net sale volume of 91,900 shares, worth a total of VND1.98 billion ($111.2 million), on an overall volume of 1.2 million shares.
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