HCMC market rises slightly

The Ho Chi Minh Stock Exchange continued to edge up on Friday, with trading volume reaching a six-month high.

The benchmark VN-Index ended a bullish week on a bright note, rising slightly by 1.16 points, 0.41 percent, to close at 287.41.

Many investors today sold off large caps to take profits from three previous days of increases, but strong demand for shares on the market helped the index from dropping.

Turnover reached 33.7 million shares worth VND779.6 billion ($43.7 million), the most since September 9, 2008. Of the index’s 181 stocks, 75 rose and 70 fell.

Foreign investors remained net buyers for seven straight days, pumping in VND75.4 billion into shares.

Hau Giang Pharmaceutical Joint-Stock Company (DHG) lost 4.2 percent to close at VND114,000. The firm said on the bourse’s website today that it will buy back shares from senior officials who have quit their jobs. The buyback will start on April 9 and finish April 23.

Ben Tre Forestry and Aqua Product Import Export Joint-Stock Company (FBT) slipped 1.1 percent to close at VND18,000. The company also announced on the exchange’s website that it registered to buy back 735,000 shares in both off- and on-market trades.

Lu Gia Mechanical Electric Joint-Stock Company (LGC) edged up 0.94 percent to close at VND21,400. Ninh Thuan Construction, Development and Investment Company, raised its stake from 4.92 percent to 5.18 percent by buying 19,060 shares on Monday, according to a report on the bourse’s website.

Lam Dong Mineral and Building Material Joint-Stock Company (LBM) rose 4.76 percent to VND13,200. Nguyen Danh Cuong, member of the board of director, sold 5,000 shares to lower his holdings from 23,500 shares to 18,500, the exchange said on its website.

At the smaller bourse in Hanoi, the HaSTC-Index of companies closed 98.57 points, a decrease of 1.43 points, 1.43 percent.

Reported by Thieu Gia

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