Stocks rise for six days on bullish sentiment

The Vietnam’s benchmark VN-Index advanced for six consecutive days on June 2 as investors continued buying heavily after the authority announced that trading regulations would be amended.

The gauge of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange built up 3.42 percent, or 14.9 points, to close at 450.59 points.

Among the index members, 231 climbed, 23 dropped, while 35 remained unchanged.

Trading on the city bourse slightly improved in volume and 17 percent in value over the previous trading session as 34.35 million shares changed hands at a value of VND681 billion.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share by volume with 1.87 million shares changing hands.

Saigon Securities Inc. (SSI), the country’s largest brokerage, took the second rank with 1.64 million shares.

Refrigeration Electrical Engineering Corporation (REE) followed with 1.36 million shares traded.

Gainers on the city bourse included Binh Duong Trade - Development Joint Stock Company (TDC), Transforwarding Warehousing Joint Stock Corporation (TMS), Techno - Agricultural Supplying Joint Stock Company (TSC), and Vietnam Fumigation Joint Stock Company (VFG). They all sprang 5 percent to VND8,400, VND21,000, VND12,600, and VND63,000 respectively.

Petrolimex Joint Stock Tanker Company (PJT) collapsed 11.59 percent to VND6,100.

Ninh Hoa Sugar Joint Stock Company (NHS) curbed its two-day winning streak, contracting 5.66 percent to VND30,000. The company will pay dividends for the year 2010 in cash to its current shareholders at a ratio of 25 percent since July 4.

Thu Duc Water Supply Joint Stock Company (TDW) shed 4.88 percent to close at VND7,800.

The Hanoi’s HNX-Index of the smaller in the north also rose the second day, accelerating 3.23 percent, or 2.32 points, to close at 74.05 points. Trading volume was a little higher over the previous trading session as 28.2 million shares worth VND300 billion changed hands. However, foreign investors unexpectedly net sold nearly VND7 billion on the northern floor this morning.

Meanwhile, the UPCoM-Index of unlisted shares gained 0.25 points to 32.59 points this morning. A total of 206,900 shares changed hands at a value of VND2.08 billion.

By Hoang Nhan

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