Increased local buying pushes up stocks

HA NOI – Investors bought more low-valued shares, pushing up the indices on both national stock exchanges this morning.

On the HCM City Stock Exchange, the VN-Index closed up 1.3 per cent at 471.72 points at the end of the morning, with advancers outnumbering decliners by five times.

Market value stood high at more than VND964.5 billion (US$46 million), up 30 per cent over the same time yesterday, on a volume of over 67 million shares.

Nearly 80 codes hit the daily limit of a 5 per cent rise, and many of them were small- and medium-cap shares with prices were under VND10,000.

Blue chips also jumped as the VN30 Index, which tracks the performance of the 30 leading shares by market value and liquidity, increased 1.35 per cent to stand at 542.09 points.

PetroVietnam Finance (PVF), Song Da Urban and Industrial Zone Investment and Development (SJS) and Sacombank Securities (SBS) all hit their ceiling prices. SBS was temporarily the most active share with 6.72 million shares traded at the ceiling of VND6,400 this morning, as investors tried to buy cheap shares after they dropped to the floor after four successive sessions.

On the Ha Noi Stock Exchange, the HNX-Index also rose 1.16 per cent to close this morning at 79.48 points.

Trading value reached VND575.5 billion ($27.4 million) with 59 million shares changing hands.
Gainers largely outnumbered losers by 209-66, with Habubank (HBB) the most heavily-traded stock on a volume of 8.34 million shares, finising up 2.9 per cent at VND7,000.