Market finishes 2010 on a high

Ho Chi Minh Stock Exchange’s (HoSE) VN-Index advanced 3.26 points, 0.68 per cent, to 484.66 points, while the Hanoi Stock Exchange’s (HNX) HNX-Index gained 1.6 points, or 2 per cent, to 114.24 points.

As compared with 2009’s close, the benchmark VN-Index fell 2 per cent, while the HNX-Index dipped 32 per cent.

The rise was said to stem from funds’ support in an effort to make up their net asset values in annual financial statements. Several blue-chips hit the ceiling pushing the VN-Index higher.

Vietcombank (VCB) and Hoang Anh Gia Lai Group (HAG) hit the ceiling on the HoSE, while Asian Bank (ACB) hit its highest level on the HNX.

Vincom JSC (VIC) adding VND1,500 and Masan Group (MSN) advancing VND2,000 added to VN-Index’s increase as well.

On the southern bourse, the major stocks Sai Gon Securities Inc. (SSI) and Sacombank (STB) both added VND300 with more than two million shares changing hands each, outperforming the market in terms of liquidity.

Eximbank (EIB), Quoc Cuong Gia Lai Group (QGC) and Itaco (ITA) followed with more than one million traded.

DVD, ASM, CMG, DRH, ELC and KSH were all hit the ceiling.

However, Bao Viet Holding (BVH) and PetroVietnam Finance (PVF) shed VND2,500 and VND500 respectively, curbing the VN-Index’s upward movement.

Of more than 60 million shares worth VND1.592 trillion ($79.6 million) traded today, negotiations reached 21 million shares worth VND628 billion ($31.4 million).

Among them, the brokerage firm Sai Gon Securities Inc. negotiated to sell HVG (3.77 million shares), NSC (1.288 million shares), TMT (2.127 million shares) and TMS (1.34 million shares) at floor price, worth totaling $10 million.

On the Hanoi exchange, negotiations reached 8.03 million shares worth VND207.06 billion ($10.35 million), compared with 26.66 million shares worth VND540.59 billion ($27.03 million) traded under order matching method.

Overall, 144 stocks gained with 19 hitting the ceiling, 71 ended flat and 65 down with 10 hitting floor on HoSE. The bourse’s liquidity slightly rose with volume advanced 5.31 per cent and value gained 7.21 per cent.

Meanwhile, 145 stocks were up, 125 down and 96 unchanged on the HNX. Volumes shed 15.37 per cent to 34.7 million shares, worth 10.29 per cent lower at VND747.65 billion ($37.38 million).

Foreigners strongly reduced their buying volumes on the HoSE today to 2.86 million shares, down from yesterday’s 4.77 million units. REE, PVD, DPM, CTG and HAG were among the most buying stocks.

On the HNX they bought VND18.8 billion ($940,000) while selling VND5.98 billion ($299,000). The buying focused on KLS with 265,900 shares traded, followed by VND, PHS and PVS with from 100,000 to 140,000 units changed hand each.