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Shares bounce back on exchanges   2011-12-22 - VNS

Shares gained on both of the nation's stock exchanges yesterday.

On the HCM City Stock Exchange, the VN-Index closed at 367.72 points, a gain of 0.56 per cent over Tuesday's close. Trading was active but mixed, with the value of trades surging nearly 66 per cent to about VND1.24 trillion (US$58.3 million). Volume hit 47.3 million shares.

Of the 10 leading shares by capitalisation, half added value. Property developer Vincom (VIC) surged to its ceiling price of VND99,500 ($4.75) per share, while Eximbank (EIB), food processor Masan Group (MSN), Sacombank (STB), Military Bank (MBB) and Vietcombank (VCB) all rose by 0.9-1.9 per cent.

Heavy sales caused telecom equipment distributor Sacom (SAM) to claim the spot as most-active share, with a volume of 2.1 million traded, even as it bottomed out to just VND4,600 per share.

On the Ha Noi Stock Exchange, the HNX-Index also closed up 0.78 per cent to 59.79 points. Value decreased by 13.7 per cent, however, to only VND209.6 billion ($9.8 million) on a meagre volume of just over 24 million shares.

VNDirect Securities Co (VND) was the most-active share nationwide with nearly 2.3 million changing hands,

According to VietCapital Securities Co analysts, shares in the Vietnamese market were trading 45 per cent below those of other markets in the so-called CIVETS group of emerging markets in Colombia, Indonesia, Viet Nam, Egypt, Turkey and South Africa – and 23 per cent below markets in the BRIC countries of Brazil, Russia, India and China.

Although it might be too early to foresee a sustainable growth, the analysts believed that the market could create buy opportunities for medium- and long-term investors next year after plumbing new lows this year.

They advised investors to consider shares in companies with revenue streams in US dollars, such as PetroVietnam Drilling (PVD) and agricultural products and seafood processor Vinh Hoan (VHC). Others notable stocks included cash-rich consumer goods companies like Vinamilk (VNM), Phu Nhuan Jewelry Co (PNJ), and MSN.

Foreign investors yesterday net sellers in HCM City by a margin of VND710 billion ($33.5 million) and continued as net buyers in Ha Noi, picking shares worth a net of VND8.7 billion ($410,400).

Other Financial News

Bottom-feeders halt market slide   2011-12-19

Shares slide on slow buying   2011-10-07

VN Index on the rise, securities investors coming back   2011-09-11

Stock market sees massive layoffs   2011-08-29

Shares up on signs of easier credit   2011-08-23

VN-Index sinks to near 30-month low   2011-08-01

State firms told to reduce non-core investment operations   2011-06-28

SSC says no action needed to rescue stock market now   2011-05-27

Lackluster market forces securities companies to close branches   2011-05-22

Securities companies getting bogged down in losses   2011-05-18

Stock market dysfunctions as fund-raising channel   2011-05-04

Nearly 200 stocks traded below VND10,000   2011-03-17

Listed firms post fourth-quarter losses   2011-02-13

Specific blue chips underpin market rise   2011-01-21