Bargain hunting continues to shore up markets

Stocks on the Ho Chi Minh City Stock Exchange advanced the second day on November 23 as local investors increased buying of real estate and banking shares.

Vietnam’s benchmark, which tracks 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange, sprang 1.78 percent, or 6.81 points, to close at 388.57 points.

Among the index members, 153 surged, 57 submerged, while 96 remained unchanged.

Trading volume on the city bourse slightly improved over the previous day as around 33.11 million shares changed hands at a total value of VND519 billion, up 10 percent.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) stayed at the spot of most active shares in volume, for six consecutive trading sessions with 1.19 million shares changing hands.

Followed by Post & Telecommunications Investment and Construction Joint Stock Company (PTC) with 1.09 million shares traded.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) came in third with 850,940 shares.

South Vietnam Container Shipping Joint Stock Company (VSG) rebounded the second day to VND2,000, adding 5.26 percent.

Cotec Investment & Land-House Development Joint Stock Company (CLG) rose to VND10,500, up 5 percent.

Gemadept Corporation (GMD) salvaged 4.97 percent to VND16,900.

Petroleum Pipeline and Tank Construction Joint Stock Company (PXT) crushed 10.34 percent to close at VND5,200. The company will advance dividends for the year 2011 to its current shareholders in cash at a ratio of 6 percent on December 15.

Cat Loi Joint Stock Company (CLC) lost 5.34 percent to close at VND12,400. The company will advance dividends for the year 2011 to its current shareholders in cash at a ratio of 10 percent from December 22.

Petroleum Equipment Assembly & Metal Structure Joint Stock Company (PXS) trimmed 5.1 percent to close at VND9,300.

The Hanoi HNX-Index of the smaller bourse in the north rallied 0.58 percent, or 0.36 points, to close at 62.1 points. Around 24.1 million shares changed hands at a value of VND228.5 billion.

Meanwhile, the UPCoM-Index of unlisted shares also inched up 0.37 percent, or 0.11 points, to 29.67 points at 11:30 am Vietnamese time. A total of 67,400 shares changed hands at a value of VND276 million.

By Thuy Doan

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