Stock market sets new record high

The stock market ended the month with an excited session August 31, in which the VN-Index rose by 10.25 points to close 546.89, a record increase for a single day and setting the highest peak in the last 12 months. 

Selling was considerable, as investors decided to sell their shares to take profits before National Day.

Almost all stocks posted on the nation’s two exchanges rose.  Turnover rocketed to 70.6 million shares, worth VND2.78 trillion.

Blue chips continued to overwhelm the market.

Among ten leading shares, only Petrovietnam Fertilizer and Chemicals (DPM), Petrovietnam Finance Company (PVF) and Hoa Phat Group (HPG) fell.

Vinamilk (VNM) continued increasing by VND2,000 to finish VND158,000. Its deputy Director announced to sell 30,000 shares, making up 51 percent of his VNM shares.

The company’s profits in the first seven months were predicted to reach VND1.42 trillion, 85 percent of the year’s plan.

Hoang Anh-Gia Lai Group (HAG), Sai Gon Stock (SSI) and DIG Corp (DIG) respectively rose VND96,500, VND76,500 and VND95,000.

Bank stocks made a strong run, with Sacombank (STB) and Vietcombank (VCB) increasing by VND1,000 to close VND39,000 and VND57,000, respectively.

Small shares also increased strongly over several straight days and fishery stocks and some construction companies could not meet demands of investors.

Investors predict that the VN-Index will easily pass the benchmark of 550 tomorrow and reach 575 points several days later.

Reported by Dong Nghi

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