Wednesday, February 21 2018

VietNamNews

Oil, gas and securities lift markets

Update: August, 19/2014 - 09:04
Investors watch trading at Saigon Securities Inc in Ha Noi. Strong trading at oil and gas companies and securities firms continued to prop up both domestic stock exchanges yesterday. — VNS Photo Viet Thanh

HA NOI (VNS) — Strong trading at oil and gas companies and securities firms continued to prop up both stock exchanges yesterday.

Many oil and gas shares hit their ceiling prices, like Petroleum Industrial & Civil Construction (PXI) and Petroleum Pipeline and Tank Construction (PXT) on the HCM Stock Exchange and PetroVietnam Northern Gas (PVG) and Petroleum Pipeline and Tank Construction (PVE) on the Ha Noi Stock Exchange.

Steady growth of Saigon Securities Inc (SSI) led gains among securities companies. SSI climbed 4.54 per cent, while others like HCM Securities (HCM), Bao Viet Securities (BVS), VNDirect Securities (VND), Kim Long Securities and AgriBank Securities (AGR) increased from 1.7-3.7 per cent.

The positive mood spread through the whole market, pushing up both stock indices. In HCM City, the VN-Index inched up 0.14 per cent to close the session at 605.08 points while the VN30, which tracks the top 30 shares with the highest market value and liquidity, also increased 0.29 per cent to stand at 647 points.

The market position was good with 124 codes posting gains, 87 losing and 93 closing unchanged. Meanwhile, the HNX-Index on Ha Noi's bourse advanced 1.1 per cent to end the day at 83.14 points as gainers doubled losers.

Liquidity soared, driven by robust cash inflow. Over 216.6 million shares worth a combined VND4.866 trillion (US$230.6 million) were traded on the two exchanges by the end of the session.

Around 15 million shares of dairy giant Vinamilk (VNM), worth over VND1.855 trillion ($88 million), were exchanged via negotiations yesterday, helping lift liquidity. These shares were likely purchased by F&N Dairy Investment Pte Ltd, as the company registered last week to buy 15 million VNM shares.

However, VNM's price fell by 0.86 per cent yesterday to close at VND115,000 ($5.45) per share.

Real estate FLC Group (FLC) continued to be the most active stock nationwide on total trades of nearly 19 million shares. Its price grew 0.8 per cent to VND13,300 ($0.63) a share.

Contrasting with domestic investors' moves, foreign investors decided to sell out yesterday. They concluded as net sellers on both markets, responsible for a combined net sell of VND51 billion ($2.4 million) worth of shares. — VNS

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