Chủ đề: Vinamilk shares boost market
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29-06-2011 08:22 AM #1
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Vinamilk shares boost market
The VN-Index ended a three-day losing streak in trading yesterday on the HCM City Stock Exchange, ending the first session of the week at 434.25 points, a gain of 0.2 per cent over last Friday's close.
While the volume of trades rose just 16 per cent to about 25.5 million shares, the value of the day's trades soared to over VND1 trillion (US$51.5 million), doubling last Friday's value, thanks to the heavy buys by foreign investors of dairy producer Vinamilk (VNM).
Foreign investors yesterday bought 6.4 million shares of VNM worth VND725 billion ($35.2 million), accounting for 70 per cent of the total market value. The shares were bought through negotiation at the ceiling price of VND115,000 ($5.60) per share.
This also lifted the value of net buys by foreign investors on the HCM City market yesterday to over VND714 billion ($34.7 million) – the highest level since the beginning of the year.
Over 14 million additional shares – which VNM had previously issued to foreign investors and employees – were officially traded on the HCM City bourse for the first time yesterday, raising the foreign ownership ratio in VNM from 46 per cent to 49 per cent. VNM closed up 2.7 per cent to VND113,000 ($5.50).
Overall, many blue chips declined, including shares of real estate developer Hoang Anh Gia Lai (HAG), steel producer Hoa Phat Group (HPG), Phu My Fertilisers (DPM), Masan Group (MSN) and insurer Bao Viet Holdings (BVH), with losses ranging from 1-3 per cent. Decliners edged advancers by 110-103.
Investors still kept a watchful eye for an uptrend following the release of some positive economic data last week, said independent analyst Pham Viet Hung.
"Economic policies used to be unpredictable in Viet Nam, and investors want to wait for clearer signals before making any investment decisions," said Hung.
Inflation in June was reported to rise just 1.09 per cent over May, its slowest pace since the beginning of the year, while growth in the trade deficit slowed, with the deficit being forecast to reach $6.65 billion in the first half.
The central bank also said that credit growth in the non-manufacturing sector dropped to 16.9 per cent of total outstanding commercial bank loans in June, well within the Government's 22-per-cent cap.
On the Ha Noi Stock Exchange yesterday, the HNX-Index retreated by 0.2 per cent from the previous Friday to close at 75.63 points. Over 24 million shares were traded, worth VND293.6 billion ($14.3 million), while losers outnumbered gainers by 128-102.
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