kieudiemvje
19-03-2010, 10:56 AM
Increasing buys in the final minutes of Thurday's session on the HCM City Stock Exchange helped the market end two days of declines and lifted the VN-Index to a close of 519.73, a gain of 1.74 per cent.
Although the volume of trade continued sliding, reaching just over 45 million share, the combined value of trades remained solid at VND2.1 trillion (US$111 million).
Saigon Securities Inc (SSI) became the most active share with nearly 4 million traded, buoyed by the an announcement yesterday that SSI would issue bonus shares to exising shareholders at 1:1 ratio. The brokerage also said it would offer 3 million additional shares to its staff at a preferential price of 50 per cent of the market price. SSI yesterday closed up 2.84 per cent to VND90,500.
Bao Viet Securities Company analyst Nguyen Xuan Binh, suggesting the two-day correction earlier this week may have had a hidden and extraordinary cause, predicted that yesterday's session would signal a returning rally. But Nguyen Duy Tan, a broker with a Ha Noi-based securities firm, said that trading volumes were gradually declining, indicating some hesitation among investors. "Investors haven't reawakened yet," he said.
Concerns that inflation would make a comeback might be the factor fueling the hesitation, Tan said, noting that petrol distributor Petrolimex had posted a loss this week, suggesting a fuel price increase might be on the way.
On the Ha Noi Stock Exchange, the HNX-Index gained 1.4 per cent on the day to close at 170.59. The value of trades reached VND1 trillion ($52.6 million) on a volume of 29.7 million shares. Kim Long Securities Co (KLS) was once again the most-active share on the northern market, with 3.8 million traded.
Foreign investors bucked the prevailing trend on the southern market by selling off a net of 400,000 shares, but they were net buyers on the northern bourse, picking up 750,000 share.
Although the volume of trade continued sliding, reaching just over 45 million share, the combined value of trades remained solid at VND2.1 trillion (US$111 million).
Saigon Securities Inc (SSI) became the most active share with nearly 4 million traded, buoyed by the an announcement yesterday that SSI would issue bonus shares to exising shareholders at 1:1 ratio. The brokerage also said it would offer 3 million additional shares to its staff at a preferential price of 50 per cent of the market price. SSI yesterday closed up 2.84 per cent to VND90,500.
Bao Viet Securities Company analyst Nguyen Xuan Binh, suggesting the two-day correction earlier this week may have had a hidden and extraordinary cause, predicted that yesterday's session would signal a returning rally. But Nguyen Duy Tan, a broker with a Ha Noi-based securities firm, said that trading volumes were gradually declining, indicating some hesitation among investors. "Investors haven't reawakened yet," he said.
Concerns that inflation would make a comeback might be the factor fueling the hesitation, Tan said, noting that petrol distributor Petrolimex had posted a loss this week, suggesting a fuel price increase might be on the way.
On the Ha Noi Stock Exchange, the HNX-Index gained 1.4 per cent on the day to close at 170.59. The value of trades reached VND1 trillion ($52.6 million) on a volume of 29.7 million shares. Kim Long Securities Co (KLS) was once again the most-active share on the northern market, with 3.8 million traded.
Foreign investors bucked the prevailing trend on the southern market by selling off a net of 400,000 shares, but they were net buyers on the northern bourse, picking up 750,000 share.