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Trade negotiations lead to VN-Index rally   2010-10-29 - VNS

Trade negotiations continued to intensify, which helped the VN-Index on the HCM City Stock Exchange to rise by 0.57 per cent today and close at 452.63 points.

Combined value of the day's trading session returned to an active level at VND1 trillion (US$51.3 million), on a total volume of 33.4 million shares trading hands. Trade negotiations accounted for 45.5 per cent of the day's total value, worth VND454.5 billion ($23.3 million).

About 124 out of the 271 listed stocks on the southern market gained ground, containing blue chips VietinBank (CTG), Eximbank (EIB), Sacombank (STB), the Corporation for Financing and Promoting Technology (FPT), and Sai Gon Securities (SSI).

Only four stocks rose to their ceiling prices, including Sao Mai Construction (ASM), up VND1,000; LIX Detergent (LIX), up VND1,500; Petrolimex International Trading (PIT), up VND1,313; and Vietnam Golf Tourism (VNG), up VND100.

More than 80 stocks declined, including eight that matched their floor prices.

The HNX-Index on the Ha Noi Stock Exchange advanced by 1.12 per cent to close at 112.76 points. Decliners outnumbered advancers by 127 to 117.

Vinaconex and PetroVietnam's stocks rallied, allowing the index to rebound on Friday. Vinaconex's stocks [VCG of Vinaconex; VC1 of Vinaconex Co No 1, V21 of Vinaconex Co No 21] rose by an average of VND1,300, while PetroVietnam's [PVS of PetroVietnam Technical Services, PVI of PetroVietnam Finance, PVX of PetroVietnam Construction] stocks rose by VND400.

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