Stock market extends winning streak, but buying loses steam

The Ho Chi Minh Stock Exchange rose marginally on Monday as heavy buying shows signs of losing steam.

The VN-Index of 181 leading shares edged up 0.69, or 0.18 percent, to close at 390.85.

The market’s liquidity remained high, with 47.75 shares being traded for VND1.37 trillion ($77 million). Of the index members, 96 shares advanced, 62 declined and 23 were unchanged.

Foreign investors were net buyers, pumping in VND30.2 billion worth of shares.

Most of blue chips like dairy firm Vinamilk (VNM), steel maker Hoa Phat Group (HPG), Pha Lai Thermal Power (PPC) and oil drilling PV Drilling (PVD) were among today’s losers. 

Only PetroVietnam Finance Joint-Stock Corporation (PVF), Sacombank (STB) and brokerage Saigon Securities Incorporation (SSI) moved up.

Sacombank, partly owned by ANZ, remained the most active stock by volume, with 7.65 million shares worth VND198 billion changing hands. The HCMC-based bank rose 1.59 percent to VND25,600.

Seafood Joint Stock Company No.4 (TS4) surged 4.69 percent to close at VND22,300. Nguyen Thi Hue, wife of deputy general director Le Thanh Nam, registered to sell her entire holdings of 25,670 shares before August 20, according to a statement on the exchange’s Web site.

She needs money to buy an apartment in the Orient Apartment Bulding in HCMC’s District 4, also according to the statement.

Vegetexco Port Joint-Stock Company (VGP) remained unchanged at VND21,300. The port operator announced on the bourse’s Web site that in the first four months of the year, it made VND7.7 billion in profit on VND rose percent to VND20.7 billion in revenue.

The earning results show that the company’s profit and revenue increased by 11.3 percent and 42.94 percent respectively compared with the year’s targets.

Vietnam Sun Corporation (VNS), VINASHUN cab operator, rose sharply 4.98 percent to VND21,100. The firm informed to the exchange that Dang Thanh Duy, relative of chairman Dang Phuoc Thanh, boosted his holding to 2.7 million shares by buying 187,230.

The smaller bourse in Hanoi also staged a minor rally, with the HaSTC-Index gaining 0.59, or 0.43 percent, to finish at 136.75.

Reported by Phong Linh

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