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Indices close winning week
The HCM City Stock Exchange continued its slow, steady rally Friday, with the VN-Index adding another 0.29 per cent to close out the week at 517.42 points.
Gainers outnumbered decliners by 107-69, while the value of trades increased by 19.4 per cent over Thursday's session to over VND2.4 trillion (US$129.5 million). Volume was 62.5 million shares, up 13.6 per cent from the previous session.
Tan Tao Investment Industry Company (ITA) claimed the place as most-active share with over 2.6 million traded.
Among the day's losers were many penny stocks that had seen price spikes during the week, including Nari Hamico Minerals Company (KSS), Nam Viet Corporation (NAV) and Long An Food Processing Export Company (LAF), all of which dropped to the floor as speculators cashed in before the weekend.
Some of the same day traders ploughed their investment back into other penny stocks, however, with Sea and Air Freight International Company (SFI), Telecommunications Industry Electronics Company (TIE), Thien Nam Trading Import Export Company (TNA) and Thong Nhat Rubber Company (TNC) all hitting their ceiling prices.
Among blue chips, construction shares like Tu Liem Urban Development (NTL), Ha Do Company (HDG) and Cotec Construction (CTD) continued to post gains, while financials like Saigon Securities Inc (SSI) and PetroVietnam Finance (PVF) again lost value.
On the Ha Noi Stock Exchange, profit-taking in the final minutes of yesterday's session held the HNX-Index to an increase of just 0.12 per cent on the day. It ended the week at 170.83 points.
The value of trades on the northern bourse fell slightly to about VND1.7 trillion ($89.5 million) on a volume of nearly 49.3 million shares, as gainers outnumbered losers by 140-103.
Shares under the Song Da and Vinaconex umbrellas continued to rise yesterday, and PetroVietnam Construction Company (PVX), thriving on high profit reports in the first quarter, remained the leading share by volume on both bourses, with over 6.1 million traded.
The Tien Phong (The Vanguard) Online quoted some large commercial banks as confirming that they had sufficient capital to make short-term loans at an interest rate of 14.5 per cent, much lower than last month's rate base of 16-19 per cent.
The head of analysis for Tan Viet Securities Company, Nguyen Hong Quang, said investor confidence would continue to rise this month on favourable economic data and positive first-quarter earnings.
"Short-term speculative investment is likely to continue this month, boosting market liquidity," added the director of SME Securities Co's analysis department, Nguyen Viet Hung.
Foreign investors concluded the week as net buyers on both bourses yesterday, by a soaring net value of VND112 billion ($5.9 million).
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