Shares stall as trades remain sluggish

November 16, 2012 | 08:43

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Shares managed to gain on the Ho Chi Minh Stock Exchange on November 14 but retreated in Hanoi as trading volumes remained depressed.

In HCM City, the VN-Index closed up 0.65 percent to 387.71 points on improved market sentiment, although nearly 40 per cent of codes saw losses. Morning gains were largely erased during afternoon trades.

The value of trades was virtually unchanged from the previous day's level at 320.8 billion VND (15.2 million USD), while volume reached only 24 million shares.

Among the 30 leading shares tracked by the VN30-Index, advancers and decliners were split almost evenly, 12-11.

Vinamilk (VNM) soared to its ceiling price, helping lift the VN30 overall by 0.69 percent to 458.21.

On the Hanoi Stock Exchange, the HNX-Index fell to 52.30, 0.17 percent below the prior day's close. Market value fell by half to just 118 billion VND (5.6 million USD) on a volume of 18.9 million shares.

The HNX30, which tracks the northern bourse's 30 leading shares by capitalisation and liquidity, shed 0.2 percent to close at 95.68 points.

Foreign investors were net buyers in Hanoi during the day, picking up shares worth a net of 4 billion VND (190,400 USD). However, they shifted to net sellers in HCM City by a margin of nearly 11 billion VND (523,800 USD).

Stocks favoured by foreign buyers included PetroVietnam Gas (GAS), Kinh Do Confectionery (KDC), Vietcombank (VCB) and sugar producer Bourbon Tay Ninh.

Meanwhile, foreign investors unloaded shares of Military Bank (MBB), real estate developer Hoang Anh Gia Lai (HAG), Sacombank (STB) and Vinh Son-Song Hinh Hydropower (VSH).

VIR/VNA

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