The Ho Chi Minh Stock Exchange on Friday wrapped up the week on higher note as investors remained in buying spree.
The VN-Index of 181 stocks on the exchange moved up strongly in the first trading session, with 4.2 million buying orders for shares in cable producer SACOM but only 187,060 shares were sold.
Despite the strong demand, no one was eager to sell as they expected share prices will continue to surge.
VN-Index finally closed at 325.05, showing a sharp rise of 13.33, or 4.28 percent.
Turnover decreased to 28 million shares worth VND645 billion as all but a mere eight stocks advanced.
Foreign investors, as always, made a contrast move to domestic players, offloading more than VND80 billion worth of shares.
Ho Chi Minh Infrastructure Investment Co. (CII), a construction and property company, climbed 4.84 percent to a six-month high of VND32,500. Net income will increase by 25 percent in the first quarter from a year earlier, the company said in a statement posted on the exchange’s Web site after the market closed on April 3.
Profit will total VND46.5 billion (US$2.6 million) in the January-to-March period due to a strong performance from its financial investments and expense cuts, the company said.
Tan Tien Plastic Packing Joint-Stock Co. (TTP), a packaging maker partly owned by Citigroup Inc., jumped 4.35 percent to VND12,000. The Ho Chi Minh City-based company said sales increased 14 percent on-year to VND244 billion ($13.7 million) in the first quarter of 2009 on higher orders.
Interfood Shareholding Company (IFS), a producer of canned agricultural and aquatic products, and confectionary, closed higher 4.41 percent at 7,100. The company had a net loss of VND223 billion in 2008, it said in an e-mailed statement to the Ho Chi Minh City Stock Exchange.
Pha Lai Thermal Power Joint-Stock Company (PPC) advanced 4.76 percent to finish at VND28,600. PetroVietnam Joint-Stock Finance Corporation registered to sell its entire holdings of 126,420 shares, according to a statement on the bourse’s Web site today.
The Hanoi Securities Trading Center remained bullish, with the HaSTC-Index rising 6.36 percent to 118.58.
Copyright by: www.newsviet.info
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