Stocks climb on low-valuation buys (23/4/13)

[pitias01]

Investors increased their buying this morning as prices of many shares became appealing after many slack sessions.

The VN-Index on the HCM City Stock Exchange regained 0.99 per cent to close the morning session's at 473.07 points. Advancers doubled decliners, led by recovery of blue chips.

Most of the 30 largest shares by capitalisation and liquidity rose. Bao Viet Holdings (BVH) was the biggest gainers, up 3.11 per cent; closely followed by Southern Rubber Industry (CSM), up 3 per cent; PetroVietnam Finance (PVF), up 2.53 per cent; and Vinamilk (VNM), up 1.64 per cent.

The VN30 was also up 0.71 per cent on 531.38 points. Trading volume was modest, however, reaching just 21 million shares, worth nearly VND369 billion (US$17.6 million).

Tan Tao Investment Industry (ITA) was the most active code with 1.4 million shares changing hands, up 5.4 per cent at VND5,900 a share.

On the Ha Noi Stock Exchange, the HNX-Index also rose 1.13 per cent to 58.26 points but value of trades was low at just VND96 billion ($4.6 million).

Property developer Sacomreal (SCR) and Sai Gon-Ha Noi Bank (SHB) were the most active shares on the northern bourse with each reporting 2.1-2.5 million shares traded. While SCR climbed 6.6 per cent to VND6,500 a share, SHB increased just 1.6 per cent to VND6,400.

Trading will resume at 1pm.

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