Extra trading time lifts liquidity
Shares rose in HCM City but retreated in Ha Noi yesterday.
On the HCM City Stock Exchange, the VN-Index closed at 506.16 points, increasing nearly 0.5 per cent compared to last Friday's session.
The VN30, tracking the city's 30 leading shares in terms of capitalisation and liquidity, also added 0.25 per cent to 557.97 points.
Insurer Bao Viet (BVH) finished the session 5 per cent higher, while private equity group Masan (MSN) grew 4.3 per cent, and PetroVietnam Drilling Services (PVD) rose 3 per cent. Commercial baker Kinh Do (KDC) followed, adding 2.6 per cent.
Meanwhile, two firms newly included in the VN30 - Pha Lai Thermal Power (PPC) and Petrovietnam General Services Corp (PET) - saw shares tumble 2 and 1.8 per cent respectively.
The total trading value on the bourse climbed around 53 per cent over the previous session to reach almost VND1.4 trillion (US$66 million) on a volume of 54.4 million shares. However, this higher level was mainly due to the time extension granted to the session yesterday, with shares now being traded until 3pm instead of 2.15pm.
On the Ha Noi Stock Exchange, the HNX-Index lost 0.6 per cent to 62.80 points. As only 17.7 million shares changed hands, trading value was just VND139.2 billion ($6.5 million), decreasing over 28 per cent compared to last Friday.
Trading hours will be extended in Ha Noi next Monday.
The HNX30, composed of the northern exchange's top 30 stocks, shed 0.3 per cent, standing at 118.88 points.
Analysts for the financial information website vietstock.vn questioned the rising momentum of the market as the consumer price index (CPI) in HCM City and Ha Noi was reported to increase to a five-month high yesterday.
CPI in the southern city rose 0.22 per cent while edging up 0.17 per cent in Ha Noi, mainly due to the lift in petrol prices.
However, the analysts expect periodical rises in July and August. "This has been happening for the last 10 years," they added.
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