Stock market continues to rally

The Ho Chi Minh Stock Exchange inched up on Thursday over sharp selling on blue chips, which came in the wake of profit taking.

The stock market rally in Ho Chi Minh City has continued for six days in a row, with the VN-Index rising marginally 0.52 percent to close at 412.51 today.
More than 59 million shares were traded for VND1.94 trillion ($109 million), as 120 stocks rose, 48 fell and 14 were unchanged.

Foreign investors continued to spend more money on Vietnamese stocks, pumping in a net value of VND75 billion worth of shares.

Their five top picks today were (PVF), Sacombank (STB), Vinh Son – Song Hinh Hydropower (VSH), software developer FPT Corp. (FPT) and Bao Minh Insurance Corp. (BMI).

Chang Yih Ceramic Joint-Stock Co. (CYC) increased by 4.85 percent to VND10,800. The ceramic tile producer announced on the exchange’s website that it will go ex-dividend on May 27.

Vinh Hoan Corp. (VHC) was unchanged at VND30,700. The seafood exporter said Red River Holding, one of its substantial shareholders, boosted its stake to 9.23 percent from 7.91 percent by buying 396,610 shares.

Truong Thanh Furniture Corporation (TTF) edged down 0.97 percent to VND20,500. Ta Thi Vu Van, daughter of deputy general director Ta Van Nam, registered to sell 20,000 shares before August 22, according to a report on the bourse’s website.

Her holdings will decrease to 32,133 shares after the sale, the exchange said in the report.

Vo Thi Nang, Nam’s wife, registered to sell a similar amount to cut her holdings to 15,866 shares.

Viettronics Tan Binh Joint Stock Co.(VTB) moved up 2.11 percent to VND14,500. Vu Duong Ngoc Duy, deputy general director, will raise his stake to 1.08 percent from 0.91 percent by purchasing 20,000 shares, according to the exchange.

The Hanoi Securities Trading Center made a slight correction today, as the HaSTC-Index crept down 0.16 pints, 0.11 percent, to close at 142.5.

Reported by Phuc Huy

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