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VietNamNews

Blue chips lead mixed results on VN markets

Update: September, 23/2013 - 08:26

Investors watch stock transactions at Alpha Stock Trading Floor in Ha Noi. Cash flows last week focused on shares of exchange-traded funds revising their portfolios. — VNS Photo Truong Vi

HA NOI  (VNS) — On the HCM City Stock Exchange last week, the VN-Index rallied 0.16 per cent over the previous Friday's close to 477.19 points.

Meanwhile, the HNX-Index on the Ha Noi Stock Exchange fell 1.7 per cent to 59.17 points. Large-cap stocks tracked by the website vietstock.vn's VS-Large Cap index were the only group of stocks to add value.

The average trading volume in HCM City jumped around 37 per cent compared to the previous week, reaching VND776.6 billion (US$36.98 million) per session, thanks to activities of foreign investors, who were net buyers for the week by VND355 billion ($16.9 million).

Trading averaged VND248.3 billion ($11.7 million) and 37.6 million shares in Ha Noi.

Cash flows focused on shares of exchange-traded funds' plans to revise their portfolios, such as Da Nang Rubber (DRC), Sai Gon-Ha Noi Bank (SHB), Pha Lai Thermalpower (PPC), PetroVietnam Finance (PVF) and construction giant Vinaconex (VCG).

Notably, over 36.6 million SHB shares changed hands last Friday, accounting for 51 per cent of the northern bourse's transactions, in which foreign investors bought more than 35.4 million shares.

On the HCM City Stock Exchange, more than 24 million PVF shares were traded, representing eight per cent of the exchange's total transaction value. PVF will be delisted tomorrow to merge with Western Bank. The bank can only list shares after the merger if the bank has been operating for at least one year, among other conditions.

The rally last week was modest and did not form any significant technical signals, said ACB Securities Co analysts, adding that the market might "slightly recover" but "soon decline".

They predicted the VN-Index could decrease further to the support level of 460-465 points, while the HNX-Index struggled around 58-59 points. — VNS

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