FPT rises over speculation about unit sale

March 18, 2016 | 12:49

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Vietnamese shares ended mixed on the two local exchanges this morning.

The benchmark VN Index on the HCM Stock Exchange dropped 0.2 per cent to close at 578.09 points. - VNs Photo Truong Vi

Meanwhile, information and technology firm FPT Corporation rose on speculation that the company would sell one of its units at the end of this year.

The benchmark VN Index on the HCM Stock Exchange dropped 0.2 per cent to close at 578.09 points, while the HNX Index on the Ha Noi Stock Exchange inched up 0.1 per cent to end at 80.67 points.

Information and technology firm FPT Corporation (FPT) added two per cent at the end of this morning, following speculation that the company would sell its retail and distribution chains at the end of this year.

The deal is expected to bring FPT between US$103 million and $121 million.

Meanwhile, investors were cautious as investment fund Market Vectors Vietnam ETF (VNM ETF) was to announce its new investment portfolio for the second quarter of this year.

Plastic producers helped lift the markets this morning, led by Binh Minh Plastic JSC (BMP) and Tien Phong Plastic JSC (NTP), which rose 2.9 per cent and 2.5 per cent, respectively.

Securities companies also made good gains. HCM City Securities Corporation (HCM) gained 2.5 per cent and Kim Long Securities Corporation (KLS) jumped 3.7 per cent.

However, insurance companies and property developers such as Bao Viet Holdings (BVH) and property firm Vingroup JSC (VIC), respectively, weighed on the markets.

VNS

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