Recovery on Vietnamese Stock exchanges

Vietnamese stocks propped themselves up a bit Thursday prompting both the Ho Chi Minh City and Hanoi indexes to rise.

HCMC’s VN-Index edged up 3.99 points, or 0.38%, to close at 1042.79. Up north, Hanoi’s HASTC-Index gained 2.83 points to close 3115.87.
Demand in HCMC decreased 6% to 9.7 million shares while investors offered to sell 10.9 million shares, an increase of 11%.
The bourse closed with trading volume and turnover up 16% and 8% respectively to 5.9 million shares and VND684 billion (US$42 million).

Forty companies gained while 44 others lost out of the market’s 107 stocks.
Many blue chips including FPT, PPC, REE and VSH were among losers.
Of the blue chips, only heavyweight SJS ranked among the 5% limit ceiling hitters, jumping to VND252,000.

The month’s two hottest stocks, BMC and TCT, which had soared phenomenally this week and last, have hit floor prices for the third day in a row.

Market analysts predict the plummet to continue until the State Securities Commission finishes its current probe into the companies, whom the regulator suspects of possibly cheating.
STB led the market in terms of liquidity with 90,000 shares traded while FPT came first in terms of turnover with VND134 billion worth of securities changing hands.

Foreign investors were net buyers injecting VND260 billion – making up 38% of the market total value - in 1.5 million shares, mainly PVD, PPC, SAM, SJS and FPT among others.
Of the two mutual funds, PRUBF1 stayed unchanged at VND13,100 while VFMVF1 lost 0.6% to VND33,000.


A recovery hit the Hanoi bourse Thursday, promoting rises in both trading volume and value by 7% and 18% respectively.
The market saw 1,071 shares traded for VND123 billion with 26 gainers and 54 losers out of 87 stocks.

Source: Thanh Nien