Shares rebound in HCM City, continue to fall in Hanoi

March 01, 2011 | 15:48

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Shares rebounded this morning on the HCM City Stock Exchange thanks to a blue chip recovery, but they continued to decline on the Hanoi Stock Exchange.

In HCM City, the VN-Index gained 1.03 per cent over yesterday's close to finish at 466.12 points.

Value of the day's trades fell 24 per cent, however, to just over VND584.3 billion ($27.8 million), with just 24.2 million shares changing hands.

While losers outnumbered gainers by 139-71 overall, the Index rise was mainly attributable to heavy gains in major blue chips.

Insurer Bao Viet Holdings (BVH) hit its ceiling price while property developer Vincom (VIC) closed up 3.7 per cent, finance conglomerate Masan Group (MSN) was up 3 per cent and PetroVietnam Finance (PVF) rose 2.9 per cent.

Among the 10 largest capitalised shares, Vietinbank (CTG), Hoang Anh Gia Lai (HAG), Hoa Phat Group (HPG) and Sacombank (STB) posted small losses.

Sai Gon Securities Inc (SSI) continued to be the most active share on the southern bourse with 1.82 million stocks exchanged, but it dropped 0.8 per cent to close at VND24,200 ($1.15).

In Hanoi, the HNX-Index lost another 0.79 per cent to close at 95.16 points.

Both market volume and value dropped by more than 34 per cent with just 20.9 million shares exchanged worth VND331.8 billion ($15.8 million).

Advancers were three times higher than decliners.

Kim Long Securities (KLS), with a volume of 1.9 million shares changing hands, was once again the most heavily traded stock on the Ha Noi bourse, but closed 3 per cent down at VND13,000 ($0.62).

VNS

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