Stock market goes up over fuel price fall

Ho Chi Minh City’s stock market Wednesday stretched its winning run to five sessions in a row, following the government’s decision on cutting fuel price.

Investors watch share prices’ updates at a Ho Chi Minh City brokerage (Photo: Thieu Gia)

The VN-Index of the 156 leading firms and four closed-end funds rose marginally 0.18 point, or 0.03 percent, to close at 561.85. Volume in term of shares reached 31.3 million. Among the index members, 121 gained and 28 dropped.

Steel maker Hoa Phat Group dropped VND3,500 to close at VND71,000. The group director board member Don Di Lam, also representing Vietnam Opportunity Fund Ltd., planned to reduce the fund's stake to 5.37 percent from 7.52 percent, by selling 4.2 million shares within six months, starting from Aug. 28, according to a statement posted on the exchange’s website the Wednesday.

Vegetable oil manufacturer Tuong An fell VND4,000 to close at VND77,000. Jaccar Capital Fund reduced its stake in the HCMC-based company to 4.85 percent from 6.01 percent by selling 219,760 shares from Aug. 22 to Aug. 25, according to a statement on the exchange’s website after the market closed.

Bakery maker Kinh Do slipped VND4,000 to finish at VND80,000.

Saigon Securities Inc., Vietnam's biggest brokerage known as SSI, rose VND2,500 to close at VND61,000.

Australia and New Zealand Banking Group Ltd. registered to buy 1,366,667 shares to raise its holding to 24,130,660 shares, or 18.66 percent, from 17.66 percent, starting from tomorrow, according to a statement filed on the exchange's website.

Foreign investors bought 2.6 million shares worth VND168 billion while notching up VND186 billion by selling around three million shares, according to the exchange.

At the Ha Noi stock exchange, the HaSTC-Index of 147 listed companies ended higher 5.39 points, or 2.92 percent, at 190.06.

On Wednesday, the Vietnamese government cut the price of the most commonly used grade of gasoline to VND17,000 (about $1) a liter from VND18,000, and kerosene to VND18,000 from VND19,000.

Reported by Thieu Gia

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