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Shares recover as blue chips rally

Friday, July 25, 2014
Blue chip recovery lifted shares on the HCM Stock Exchange yesterday, with advancers outnumbering decliners by 114-98 as the other 92 closed unchanged.

The VN-Index accelerated gains toward the end of the session, closing up 0.76 per cent at 602.06 points. The VN30, tracking the top 30 shares by market value and liquidity, also climbed 0.91 per cent to end at 646.64 points.

Real estate FLC Group (FLC) was the biggest gainer yesterday as its shares hit the ceiling price of VND12,500 (US$0.59). It was also the most active stock with a whopping 22.7 million shares exchanged, accounting for nearly 40 per cent of total market volume.

Investors at BIDV Securities Company. The VN-Index accelerated gains toward the end of the session, closing up 0.76 per cent at 602.06 points.

Other large-cap shares like Vinamilk (VNM), PV Gas (GAS), Masan Group (MSN), VinGroup (VIC), Bao Viet Holdings (BVH) and FPT Corp (FPT) posted gains from 0.6-1.9 per cent each.

Trading improved over Wednesday when market volume increased 35 per cent, totaling nearly 88 million shares, and fund certificates and trading value jumped 40 per cent to almost VND1.5 trillion ($71.1 million).

Analysts said investors were upbeat on CPI (consumer price index) data in July, although it climbed just 0.23 per cent compared to the previous month, slower than June despite fuel price hikes. Inflation reached 1.62 per cent during the January-July period, the General Statistics Office reported.

On the Ha Noi Stock Exchange, the HNX-Index inched up just 0.09 per cent to close yesterday at 80.42 points while the HNX30 rose 0.12 per cent to 162.53 points.

The northern market condition was neutral with 96 shares advancing, 89 declining and 175 closing flat.

Trades were better with market volume up 15 per cent against Wednesday to 44.5 million shares, while trading value climbed 40 per cent to nearly VND619 billion ($29.3 million).

PetroVietnam Construction Corp (PVX) led the market in volume with 6.9 million shares exchanged, ending flat at VND4,400 per share.

Foreign investors accelerated buying yesterday, picking up VND125 billion ($5.9 million) worth of shares on the two markets, more than five times Wednesday's purchases of VND22 billion ($1 million) worth of shares.

Their buys focused on the HCM City exchange, however, with a total value of VND118.5 billion ($5.6 million). 
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