Share
prices closed 0.65 per cent higher yesterday, backed by strong buying and
increasing blue chips, dealers said.



On the HCM City Stock Exchange, the
VN-Index added 2.84 points to end at 439.55. As many as 17 million shares and
fund certificates changed hands with a total turnover of VND617.2 billion
(US$37.4 million).



The day's exchange saw 89 gainers
and 55 losers.



Hau Giang Pharmaceutical Joint Stock
Co (DHG), Vinamilk (VNM) and Tan Tao Industrial Park Corp (ITA), with large
capital values, were among the biggest losers.



Other major stocks hit remarkable
highs, including Phu My Fertilisers (DPM), FPT, Refrigeration Electrical
Engineering Corp (REE), Saigon Securities Inc (SSI) and Sacombank (STB), all
contributing to the overall market increase.



STB led the market in terms of
trading volume at 2.8 million shares, followed by DPM with 1.8 million. SSI
proved still attractive with purchases exceeding sales by 2.6 million.



Purchases balanced with big sales
yesterday, as investors were more confident after securities experts' expressed
optimism of an upward trend earlier this week.



Experts said the last two weeks had
been the most positive for the stock market since the beginning of the year, as
the Government's efforts to curb inflation and stabilise the general market
were showing positive signs.



Some investors were still worried
about the economy's prospects, noting that world oil prices continue to reach
new record highs, and companies were having difficulties with inflation and
interest rates.



"Now investors are mostly
interested in companies' business results," said Nguyen Minh Hoang, an
investor with SeABank Securities. "World oil prices are putting big
pressure on the economy in general and companies in particular."



Oil prices rebounded slightly
yesterday at around $137 per barrel in Asia
after tumbling more than $5 in the previous session. The fall was attributed to
traders cashing in on the previous week's gain, and a stronger dollar,
according to AP reports.



Foreign investors were net buyers
yesterday, with 2.4 million shares and fund certificates bought and 1.4 million
units sold.



Ha Noi Securities Trading Centre's HASTC-Index
gained 0.79 points, or 0.63 per cent, to close at 125.92. Trading volume
reached 5.97 million for a total revenue of VND163 billion ($9.87 million).



Asia Commercial Bank (ACB) turned
around and hit the ceiling, while Petroleum Technical Services Corp (PVS) was
in high demand with purchases exceeding sales by 1.2 million shares.