HA NOI (VNS) — Shares rallied as trading values hit new levels yesterday.
Trading value on the HCM City Stock Exchange jumped 71.4 per cent compared to Wednesday’s session, reaching VND2.44 trillion (US$115 million), although the volume of trades reached only 80.16 million shares, no higher than previous sessions.
The dramatic increase in trading was mainly caused by transactions on Vinamilk (VNM) shares, which saw more than 10 million units exchanged through the negotiation method at its ceiling price, totalling VND1.5 trillion ($70.7 million). However, VNM ended the session 0.7 per cent lower to VND140,000 ($6.6) per share.
Also, the VN-Index gained 0.3 per cent to 506.92 points, with advancers outnumbering decliners by 129-71.
Meanwhile, blue chips tracked by the VN30 performed well, lifting the index 0.3 per cent to 567.40 points. Also, only five of the 30 stocks retreated, while private equity group Masan (MSN) was still the backbone for the market, adding 1.8 per cent.
On the Ha Noi Stock Exchange, the HNX-Index enjoyed a 0.6 per cent rally to 65.97 points. The HNXFF-Index also rose 0.7 per cent to 66.12 points.
Market value and volume reached VND293 billion ($13.8 million) and over 37.8 million shares.
Large-cap stocks in Ha Noi helped the HNX30 gain 1 per cent to finish at 124.76 points, and foreign investors bought a net of VND52.5 billion ($2.5 million) yesterday.
Trading faced hard times during most of yesterday’s session, but a low price range formed on Wednesday, stimulating investor appetites.
However, BIDV Securities Co analyst Tran Thang Long remained cautious. “Although indexes rebounded, the higher trading value was only due to activities placed on a single stock, while trading volume actually declined,” he said.
“Investors should then offload some shares to cash in,” he added. — VNS