ID :
38134
Tue, 12/30/2008 - 22:28
Auther :
Shortlink :
https://oananews.org//node/38134
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Oil, gas shares lead rising market
Hanoi (VNA) - The VN-Index managed to pick up another 1.35 percent in Dec. 29's trading, rising to 308.56.
The Ho Chi Minh City market saw a modest volume of 8.2 million shares, worth
about 206.6 billion VND (12.2 million USD). Sacombank (STB) was the most active
code, with 1.23 million shares traded.
Shares in the oil and gas sector led the market in gains on Dec. 29, increasing in
value by an average of 2.53 percent, according to data from Bien Viet Securities
Co..
Low crude prices globally were supportive to the competitiveness of domestic oil
suppliers, explained Bien Viet Securities analysts.
"Listed firms in the oil and gas sector are also major firms with good financial
potential, promising investors stable profits," said one analyst who requested
anonymity.
Foreign investors continued bucking the holiday doldrums to contribute to the modest
market, buying up a net of about 550,000 shares.
Dec. 29's market gains came despite the National Assembly Standing Committee's
decision not to delay imposing new taxes on securities investments, effective
January 1.
The new Law on Personal Income Tax, going into force next week, will tax dividend
income and capital gains from securities trading.
"There's only two more days until New Year's Day," said Le Vinh, an investor at
VPBank Securities. "Selling now would not help any, as the tax is still going to
be levied on us."
Some other investors at An Binh Securities admitted that they were trying to buy
some shares at currently cheap prices.
FPT Securities Co predicted the HCM City market would remain mixed this week,
with no special news expected.
In Hanoi on Dec. 29, meanwhile, the HASTC-Index closed off a shade, down 0.11
percent to 105.50, on a sluggish volume of 4.54 million shares, worth about 121.97
billion VND (7.17 million USD).
Asia Commercial Bank (ACB) led the market at just 526,600 shares traded.
Foreign investors on the northern bourse seemed more determined to enjoy the holiday
season than their southern counterparts, buying only 55,900 shares while selling
just 133,100.-Enditem
The Ho Chi Minh City market saw a modest volume of 8.2 million shares, worth
about 206.6 billion VND (12.2 million USD). Sacombank (STB) was the most active
code, with 1.23 million shares traded.
Shares in the oil and gas sector led the market in gains on Dec. 29, increasing in
value by an average of 2.53 percent, according to data from Bien Viet Securities
Co..
Low crude prices globally were supportive to the competitiveness of domestic oil
suppliers, explained Bien Viet Securities analysts.
"Listed firms in the oil and gas sector are also major firms with good financial
potential, promising investors stable profits," said one analyst who requested
anonymity.
Foreign investors continued bucking the holiday doldrums to contribute to the modest
market, buying up a net of about 550,000 shares.
Dec. 29's market gains came despite the National Assembly Standing Committee's
decision not to delay imposing new taxes on securities investments, effective
January 1.
The new Law on Personal Income Tax, going into force next week, will tax dividend
income and capital gains from securities trading.
"There's only two more days until New Year's Day," said Le Vinh, an investor at
VPBank Securities. "Selling now would not help any, as the tax is still going to
be levied on us."
Some other investors at An Binh Securities admitted that they were trying to buy
some shares at currently cheap prices.
FPT Securities Co predicted the HCM City market would remain mixed this week,
with no special news expected.
In Hanoi on Dec. 29, meanwhile, the HASTC-Index closed off a shade, down 0.11
percent to 105.50, on a sluggish volume of 4.54 million shares, worth about 121.97
billion VND (7.17 million USD).
Asia Commercial Bank (ACB) led the market at just 526,600 shares traded.
Foreign investors on the northern bourse seemed more determined to enjoy the holiday
season than their southern counterparts, buying only 55,900 shares while selling
just 133,100.-Enditem
