Activity surges on both bourses

HANOI (VNS) — Transactions on both bourses rose slightly yesterday. The VN-Index on the HCM City Stock Exchange increased 0.39 per cent to end the day at 476.4 points, but liquidity continues to decline. Stocks advanced for a second straight day as investors continued to pick up blue-chips with good fundamentals amid a worldwide stock rally. The local market sentiment improved on a long winning run on world markets. Up until yesterday, Asian stocks have advanced for nine straight days. Although the Vietnamese market has little correlation with the rest of the world, remarkable developments still have certain effects, an FPT Securities analyst said. According to data compiled by FPT Securities, the gauge rose 15 per cent for the year to date, The market breadth was positive on the southern bourse. One hundred and eight advanced, 67 tumbled, 83 closed unchanged, and 48 stocks were untraded. The VN30-Index, a free float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange, gained 1.72 points, or 0.32 per cent, to close at 531.91. Among its 30 members, 15 stocks advanced, eight declined, and seven were unmoved. Market volume was up 20 per cent from a day earlier to 33.6 million shares. Fund certificates worth VND656 billion rose 50 per cent. Property developer, An Duong Thao Dien Co (HAR), was still the most active yesterday trading 1.79 million shares. It shed 4.4 per cent to close at VND6,500. FLC Group (FLC), came second in market… [Read full story]