Improving liquidity helps stocks (5/12/12)

[imported_kanhtran]

Shares extended their rally during this morning's session on both national stock exchanges. The VN-Index added 1.25 per cent to reach 386.89 points as advancers outnumbered decliners by 154-57.

Market value on the HCM City Stock Exchange rose to VND318.18 billion (US$15.1 million) on a volume of 28.5 million shares.

The VN30, tracking the city's top shares, enjoyed a 1.17 per cent increase as 26 shares rose and only Phu Nhuan Jewelry (PNJ) retreated. The index closed this morning at 453.26 points.
On the Ha Noi Stock Exchange, the HNX-Index put on another 0.8 per cent, reaching 51.90 points.

Gainers overwhelmed losers by 125-44.

Trading volume and value fetched 28.56 million shares and VND155.9 billion ($7.4 million), respectively.

Trading will resume at 1 pm.

View more random threads:

• HNX Notice: UPCoM Admission of additional shares NOS
• VN-index falls after four-day increase
• NNT: Notice on Dividend payment of 2016 in cash
• VC9: Notice of record date for dividend in cash
• Stock market rally on first session of new trading bands, VN-Index exceeds 500 points
• Better investor relations needed
• NTW: Plan of seasoned issue
• More and more companies plan to list shares on Vietnam’s bourses
• NBC: Notice of record date for cash dividend payment
• KSD: First trading day of additional listed shares

Shares extended their rally during yesterday's session on both of the nation's stock exchanges.

The rally was largely due to the revision of portfolios by exchange-traded funds, said ACB Securities Co analyst Le Huynh Nhut Hai.

"Foreign players tend to have actively bought some specific stocks recently, and we expect this trend to continue," Hai wrote in a note.

The FTSE fund, for instance, has announced that it would release information tomorrow on its adjusted portfolio.

The fund's Viet Nam FTSE Index currently tracks 23 large-cap stocks which still have room for foreign investors.

Shares mostly heavily represented in the fund's portfolio include property developer Vingroup (VIC), accounting for over 17 per cent of fund holdings; food processor Masan Group (MSN), accounting for over 14 per cent; and Phu My Fertilisers (DPM), 8.85 per cent. All of these companies still have additional shares outstanding under regulated foreign ownership limits representing 21-29 per cent of equity in the company.

The State Securities Commission has indicated that the Government might lift the cap of 49 per cent foreign ownership in companies in some specific sectors with a particular need to attract capital. In addition, some foreign investors have urged the Government to increase the cap pertaining to domestic commercial banks from 30 to 49 per cent.

In trading yesterday on the HCM City Stock Exchange, the VN-Index added 0.94 per cent over the previous session to close at 385.69 points. The value of trades rose 15.3 per cent to VND440.74 billion (US$20.9 million) on a volume of 40.5 million shares, while advancers outnumbered decliners by 163-69.

The VN30 Index, tracking the southern bourse's leading shares by market capitalisation and liquidity, increased by 0.8 per cent to 451.61 points, with 22 out of 30 shares seeing gains and real estate developer Tan Tao reaching its ceiling price. In this group of shares, only Phu Nhuan Jewelry (PNJ) and software provider FPT retreated.

On the Ha Noi Stock Exchange, the HNX-Index added another 1 per cent, concluding the day at 52.10 points. Value reached VND217.4 billion ($10.3 million), an increase of about 47 per cent over the previous session, while the volume of trades climbed to 39.2 million shares.
Gainers overwhelmed losers on the northern market by 130-62, and the HNX30 Index also rose by 1.24 per cent to 95.17 points.