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Shares tread water in HCM City, rise in Ha Noi
The Prime Minister's promise to take measures to stimulate growth in the real estate and securities' markets failed to lift shares on the HCM City Stock Exchange this morning, but stocks recovered on the Ha Noi bourse on improved volume.
In HCM City, the VN-Index opened in the green but declined towards the end of the session, closing today unchanged compared to Friday at 383.31 points.
Advancers outnumbered decliners by 158-75 overall, but the slump in blue chips dragged down the Index, with seven of the 10 largest shares led by capitalisation losing value from 0.4-2.1 per cent.
Only property developers Hoang Anh Gia Lai (HAG) and Vincom (VIC) and Phu My Fertiliser (DPM) rose slightly by between 0.3-0.4 per cent.
Market volume increased 32 per cent over Friday to reach 32.6 million shares, worth nearly VND437.7 billion (US$20.8 million).
Sacombank (STB), on a volume of more than 2 million shares exchanged, was the most active code on the southern bourse, but it closed down 2 per cent to just VND14,300 ($0.68).
In Ha Noi, the HNX-Index gained 1.24 per cent over Friday to finish the session at 61.91 points, as gainers overwhelmed losers by 161-88.
Trading volume and value soared 62 per cent to 31.4 million shares, worth nearly VND286.7 billion ($13.7 million).
Despite recent scandals surrounding securities companies, shares of brokerage houses still attracted investors. Kim Long Securities (KLS) and VNDirect Securities (VND) continued to dominate the Ha Noi exchange by trading volume, with 4.44 million KLS and 3.73 million Vietnamese dong changing hands. KLS rose 5.1 per cent to VND10,300, while the dong closed up 6.1 per cent to VND10,400.
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