Tuesday, September 26 2017

VietNamNews

Shares enjoy nationwide rally

Update: May, 04/2013 - 09:08
Investors monitor shares at ACB Securities Company in Ha Noi. National stocks rebounded during the last trading session of the week. — VNS Photo Truong Vi

HA NOI (VNS)— Shares rallied on both stock exchanges during yesterday's session but trading value remained low.

On the HCM City Stock Exchange, around 26.3 million shares were exchanged, totalling VND 401.9 billion (US$19.1 million) – only 66 per cent of Thursday's level.

The VN-Index added 0.47 per cent to finish the session at 475.24 points, as advancers more than doubled gainers.

The 30 largest shares tracked by the VN30 performed well, with only three stocks retreating while 25 others closed higher. The index gained 0.57 per cent to close at 539.33 points.

Masan Group (MSN) had the highest increase yesterday, rising almost 1 per cent. The firm announced its employee stock ownership plan (ESOP) which includes the issuance of 20 million shares by the end of this month.

This quantity of shares represents 2.89 per cent of the company –worth up to VND2.2 trillion ($104.7 million) based on the current market price.

On the Ha Noi Stock Exchange, the HNX-Index put on 1.3 per cent, reaching 59.06 points.

Trading value managed to grow 54 per cent compared to the previous session, fetching more than VND163.6 billion ($7.7 million) as 22.8 million shares changed hands.

The HNX30, tracking the bourse's leading shares in terms of capitalisation and liquidity, rose 1.8 per cent to 110.10 points.

Mid-cap shares rebounded strongly on both exchanges thanks to information on business operations and dividend payments, hitting their ceiling prices with a buy surplus. Most of them were real estate and construction stocks such as Hoang Quan (HQC), Idico - Petroleum Trading Construction Investment (PXL), Licogi 16 (LCG), PetroVietnam - Nghe An Construction (PVA) and Tan Ky Construction and Real Estate Trading (TKC).

Foreign investors concluded as buyers in HCM City yesterday with a margin of VND23.1 billion ($1.1 million). However, they were net sellers in Ha Noi by a net value of VND3.95 billion ($188,000).

"Market trends will be tested next week as benchmark indices approach their resistance levels," Bao Viet Securities Co analysts Nguyen Xuan Binh and Tran Hai Yen said in yesterday's report. They predicted the indices could face challenges exceeding the resistance.

"Investors can sell some shares if a bull-trap appears in the next two sessions," they advised. — VNS


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