Indices down, electricity shares hit ceiling

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VietStock FI English - 50 month(s) ago 4 readings

Both Viet Nam's stock markets opened the week's trades down on Feb 14, following the news that the State Bank of Viet Nam last Friday had lifted the inter-bank exchange rate to VND20,693 against the US dollar from VND18,932.

On the HCM City Stock Exchange, the VN-Index fell 1.14 per cent to finish at 514.05 points.

Market volume and value remained unchanged, reaching 35.5 million shares worth VND884 billion (US$42.7 million).

Losers outnumbered gainers by 150-67 although most electricity shares posted strong gains.

Today, the Government will decide the rate of the electricity price increase. The Ministry of Industry and Trade proposed 18 per cent while the Ministry of Finance advised 11 per cent.

Khanh Hoa Power (KHP), Ba Ria Thermal Power (BTP) and Vinh Son-Song Hinh Hydropower (VSH) hit their ceiling prices, while others such as Pha Lai Thermal Power (PPC) and Can Don Hydro Power (SJD) both rose 1.6 per cent.

Among the 10 largest capitalised shares, only property developer Vincom (VIC) increased, hitting its ceiling price of VND106,000, while others declined in value.

Investment and Trading Of Real Estate (ITC) became the most active stock today on a volume of 2.18 million shares changing hands. It also closed today up 0.8 per cent to VND24,600 ($1.19).

On the Ha Noi Stock Exchange, the HNX-Index slid by 0.4 per cent to close at 107.38 points.

Decliners outnumbered advancers by 157-106.

However, the market value rose by 30 per cent, reaching more than VND477.6 billion ($20.7 million) on more 25.6 million shares exchanged.

Electricity power on the northern bourse also rose. Nam Mu Hydropower (HJS) hit its ceiling price while Ninh Binh Thermal Power (NBP) increased 4.1 per cent.

Kim Long Securities (KLS) was the most heavily traded stock with over 2 million shares changing hands. It closed up 0.7 per cent to VND15,200 ($0.73).

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