Increase in Sales Slows VN-Index’s Upward Trend

An increase in sales on June 26 slowed down the VN-Index’s upward trend. Large numbers of shares sold at the beginning of the day pushed the index down but buying increased late in the day lifting the index which rose by 2.7 points or 0.7 percent to close at 386.48.

Trading volume, double Wednesday’s figure, reached 13.49 million shares, worth 420.25 billion VND (25.47 million USD).

Phu My Fertiliser (DPM) led the market in terms of trading volume with orders for more than 2.3 million shares matched, followed by Sacombank (STB) with 2.1 million shares.

Saigon Securities Inc (SSI) shares continued to be much in demand after Japan ’s Daiwa Securities Group Inc committed to buy 11 million SSI shares on Monday. Shares ordered to buy exceeded shares ordered to sell by 2.5 million.

ANZ Bank on Wednesday bought more than 6.8 million SSI shares to raise its stake in the firm to 18.89 percent.

The price of STB, however, slid 1.87 percent on the day. FPT dropped 1.98 percent while Refrigeration Electrical Engineering Corp (REE) lost 1.52 percent, after recovering on Wednesday.

On the northern market, the HASTC-Index slipped slightly 0.24 points or 0.21 percent to close at 111.82. Liquidity improved considerably, with trading volume nearly double to more than nine million shares worth total revenue of 213.7 billion VND (12.95 million USD).

Quang Ninh-based Coc Sau Coal Joint Stock Company (TC6) on June 26 listed 10 million shares, worth 100 billion VND (6 million USD), on the Hanoi Securities Trading Centre. It has 100 billion VND in equity.

As many as 28,000 TC6 shares changed hands on June 26 at an average of 29,600 VND (1.79 USD) per share. 

Source: VNA

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