HA NOI — The Ha Noi Stock Exchange saw unusually high trading volume yesterday, with 73 million shares changing hands, worth over VND1.3 trillion (US$65.5 million).
The volume outstripped that on the HCM City Stock Exchange by about 49 per cent, while the value of trades on the Ha Noi bourse exceeded that on the southern exchange by about 25 per cent.
Shares of Kim Long Securities Co (KLS) were particularly active, generating about 13.8 million trades, but PetroVietnam Construction (PVX), Ha Noi General Investment (SHN), International Financial Investment and Enterprise Development (IDJ) and PetroVietnam Land (PVL) all saw volumes in excess of 2 million shares on the day.
Despite the high volume, the HNX-Index declined by nearly 1.6 per cent from the previous day's close to 106.7 points.
Shares also closed down on the HCM City exchange, with the VN-Index ending the yesterday's session off by 0.37 per cent to 449.93. The value of trades topped VND1 trillion ($50 million) on a volume of more than 48 million shares.
About 30 codes on the HCM City board hit their ceiling prices, including An Giang Seafood (AGF), Alphanam (ALP), Vien Dong Pharmaceutical (DVD), Gemadept (GMD) and Vinafco (VFC), with the latter seeing offers in excess a million shares each – although the offers weren't matched.
"At present, prices of many shares are lower than their book values despite their good business performance, so it is completely appropriate for investors to buy in," said VietFund Management director Tran Thanh Tan. "This is a good opportunity for long-term investment."
Hoang Thi Hoa, director of analysis for Viet Capital Securities Co, echoed with the same view, noting that many shares had prices that made investing with a long-term view fairly low-risk.Source: vnagency.com.vn
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