Vietnam's capital stock market remains sluggish

GMT 11:09 2014 Friday ,13 June

Arab Today, arab today Vietnam's capital stock market remains sluggish

Vietnam's capital stock
Hanoi - XINHUA

Vietnam's capital Hanoi stock market remained sluggish during the week with low liquidity amid the lack of motivation.
During the week, HNX-Index, the benchmark of the local bourse, experienced three ups and two downs, posting the highest level of 76.68 points on Friday and the lowest level of 74.95 points on Tuesday.
Compared to the last week's final trading session, the HNX- Index on Friday increased 0.83 points, or over 1.09 percent.
The benchmark index of the local bourse, HNX-Index, closed at 76.68 points on Friday, up 0.39 points, or 0.51 percent, against the previous trading session.
A total of 47.28 million shares worth 485.69 billion Vietnamese dong (23.01 million U.S. dollars) were traded at the Hanoi Stock Exchange on Friday, a decrease of 1.55 percent in volume and 0.1 percent in value against Thursday.
Prices of 117 stocks went up, 76 stocks fell down, while 68 stocks remained unchanged. Last week, the HNX-Index fluctuated within a range between 73.9 points and 75.85 points.
HNXFF-Index, the new benchmark to replace the HNX-Index from December 2014, closed at 77.16 points, up 0.28 points or 0.36 percent on Friday.
Transaction of the top 10 stocks with biggest market capitalization reached 7.28 million shares, accounting for over 15. 4 percent of the total market trading volume.
Shares of KLF of FLC Global JSC, which firstly traded on the listed stock market since September 2013, topped the transaction volume in Hanoi stock market on Friday with some 14.78 percent of the total market volume.
PVX of the PetroVietnam Construction JSC, which is often on the list of shares with highest trading volume, was pushed to the second place with 8.1 percent of trading volume on Friday.
Once reached a value of 30,000 Vietnamese dong (1.5 U.S. dollars) per share, after five years of trading, price of PVX is now standing at less than five Vietnamese dong (25 U.S. cents).
PVX is now trading under control as it had posted losses for two consecutive years.
According to a stock analyst, PVX is a speculative stock of many investors as it is in the group under state protection, owning a number or huge monopoly projects.
Many investors are waiting for PetroVietnam Construction JSC to restructure in order to improve its stock value in the coming time.
During the Friday trading session, foreign investors remained net buyers with total value of 21.8 billion Vietnamese dong (1.03 million U.S. dollars).

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