The insurer yesterday announced a total corporate premium of VND12.8 trillion (US$609.5 million) in 2010, a year-on-year increase of 21.3 per cent, and a profit of VND1.3 trillion.
Its affiliate Bao Viet Insurance Co topped the life insurance market with a 24 per cent market share, while Bao Viet Non-Life Insurance Company ranked second in the non-life insurance market, with a 30 per cent market share.
Bao Viet shares (BVH) rose to their ceiling price at VND82,000, an increase of 4.46 per cent. BVH gains helped boost other large stocks, including Vietcombank (VCB), Sai Gon Securities Inc (SSI), PetroVietnam Finance (PVF), software producer FPT Corp (FPT) and finance conglomerate Ocean Group (OGC).
As a result, the VN-Index of HCM City market closed up 1.05 per cent to close the day's trading at 489.22 points.
Volume turned active with 41.4 million shares changing hands, valued at VND1 trillion (US$47.6 million). Tan Tao Industrial Park (ITA) was the most heavily traded at 2.6 million shares.
Stoxplus Corp analyst Le Cong said the fact that trading volume had turned active yesterday reflected increased expectations of a short-term rally and if the volume stayed up on Monday, those expectations would be confirmed.
However, the three-day rally would encourage profit-taking with the 490 mark tempting the market, said Cong.
Nam Kim Steel Company, a Binh Duong Province-based manufacturer of galvanised and colour-coated steel sheets, debuted on the HCM Stock Exchange yesterday.
NKG listed at a reference price of VND25,000 and closed up at VND29,900. On listing day, a stock is allowed to trade at up to 20 per cent either side of its reference price.
Last year, the company, which has a charter capital of VND230 billion ($11.5 million), earned a pre-tax profit of VND130 billion, almost 70 per cent up from the previous year. It is expected to rise by 13 per cent this year.
In the second quarter it will open a new factory in Binh Duong at a cost of VND600 billion ($30 million), enabling it to increase its output to 400,000 tonnes per annum and diversify into production of cold-rolled steel sheets and zinc-coated steel pipes.
In Ha Noi, the HNX-Index rose 0.59 per cent to 108.05.
Volume remained low at 25.9 million shares, worth VND464.7 billion ($22.1 million).
Some 131 stocks made gains, including Dzi An Manufacturing (DZM), up the most by VND1,800; Mineral and Mechanical (MIM), up VND1,500; Song Da Consulting (SDC), up VND1,300; and Vinh Khanh Cable Plastic (VKC), up VND1,200.
Kim Long Securities (KLS) was the most active stock, with 2.4 million traded.
Source: vnagency.com.vn
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