HA NOI — Positive trading helped local stocks gain points for the third day yesterday, with VN-Index of HCM City Stock Exchange inching up 1.19 per cent to 484.12 points.
About 181 of 283 listed securities gained ground, with Hamico Mineral Co (KSH) rising the most, VND1,800; followed by Construction Co No 5 (SC5), up VND1,700; Sao Vang Rubber (SRC), up VND1,500; House Viet Nam Co (NVN) and property trader Duc Long Gia Lai (DLG), each up VND1,300.
Saigon Securities Inc (SSI) – posting an increase of 1.36 per cent in value – claimed as the most active stock with 1.7 million shares.
Trading volume was halved in Wednesday's session, dropping to about 29 million shares, totalling VND744.1 billion (US$35.4 million).
Nguyen Hoang, a veteran member with Vietstock online forum for securities investors, said that pressure on the banking system after the New Year holiday was a major cause of the apathy.
"Demand for cash from enterprises is always high in the (Lunar) year-end period, while consumer demand also increases at the same time. This basically causes capital limitations in the securities markets," Hoang said.
Although lacklustre, trading activities implied some positivity as the securities prices were cheap enough to seek profits, Hai said, pointing to the third-day rallies of both stock indices.
On the Ha Noi market, HNX-Index added 1.05 per cent to 107.42 points.
Volume remained low at 21.1 million shares worth a total of VND384.8 billion ($18.3 million). Kim Long Securities (KLS) was the most active with 2.2 million shares.
Foreign investors were net buyers yesterday, picking up 2.8 million shares from both stock exchanges.Source: vnagency.com.vn
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