Monday, October 23 2017

VietNamNews

Market rebounds on oil, gas growth

Update: February, 05/2015 - 08:56
A staff member carries out a transaction at the Ha Noi Stock Exchange. Indices ended higher on both bourses in Viet Nam. — VNS Photo Viet Thanh
HA NOI (VNS)  — Stocks recovered in yesterday's afternoon session, led by blue chips.

The benchmark VN-Index on the HCM Stock Exchange gained nearly 4 points, or 0.71 per cent, to close at 561.45 points.

Eleven of the top 30 shares by market value and liquidity improved while nine declined. The VN30 rose 0.57 per cent to end at 588.83 points. The gainers were the largest shares in terms of market capitalisation, such as Bao Viet Holdings (BVH), up 4.35 per cent; Vinamilk (VNM), up 1.98 per cent; and Masan Group (MSN), up 0.62 per cent.

Oil and gas stocks also had impressive growth. PV Gas (GAS), the biggest stock on the market, climbed 2.61 per cent, while PetroVietnam Drilling and Wells Service Corp (PVD) jumped 2.56 per cent.

The market condition was neutral with 104 codes rising, 108 tumbling and 96 closing flat.

Liquidity was little changed compared with the previous session, totaling more than 100 million shares worth VND1.56 trillion (nearly US$73 million).

FLC Group (FLC) remained the most heavily-traded stock with 11.8 million shares exchanged. The share price soared 5 per cent to VND10,600 each.

Ocean Group (OGC) came second with the trading of 10.8 per cent changed hands but dived 5.5 per cent to close at the historic low price of VND5,200 a share.

On the Ha Noi Stock Exchange, the HNX-Index also grew 0.77 per cent to finish at 83.20 points thanks to oil and gas stocks.

Stocks on the northern exchange, including PetroVietnam Technical Services Corp (PVS), PetroVietnam Northern Gas (PVG), PetroVietnam Drilling Mud (PVC) and Petro VietnNam Coating (PVB), gained value.

Liquidity fell as both market volume and value dropped 20 per cent from a day ago, reaching 35.7 million shares worth VND432 billion ($20.2 million).

KLF Joint Venture Global Investment Co (KLF) was again the leading stock with the trading of 4.4 million shares, rising 2 per cent to end at VND10,200 a share.

Foreign investors were mixed yesterday. They continued to sell a net value of VND9.36 billion ($437,400) worth of shares in the HCM City's market while returning to be net buyers on the Ha Noi market with a pick up of VND6.11 billion ($285,500) worth of shares. — VNS

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