Sunday, November 19 2017

VietNamNews

Stocks rise on foreign inflows

Update: March, 21/2015 - 10:19
Investors follow transactions at a MB Bank Securities trading floor in Ha Noi. — VNS Photo Truong Vi
HA NOI  (VNS) — Shares rose more strongly in yesterday's afternoon session, driven by inflows from foreign investors.

Yesterday was the last day for the Market Vectors Vietnam (VNM) exchange-traded fund to conclude its portfolio review. The two newly added shares in its portfolio, Kinh Bac City Development Holding Corp (KBC) and confectionery Kinh Do Corp (KBC), were the most heavily traded codes in foreign trading.

The foreign sector turned heads to be net sellers on the HCM City Stock Exchange. They picked up shares worth more than VND213 billion (nearly US$10 million) yesterday, an impressive improvement compared with the net sell value of nearly VND222 billion ($10.4 million) seen on Thursday.

KBC were bought the most by volume with 11.7 million shares traded, worth almost VND199 billion ($9.3 million). Meanwhile, KDC was the leading share in terms of value with a net buy value of nearly VND261 billion ($12.2 million).

Both shares went up more than 1 per cent yesterday. KBC rose 1.8 per cent to close at VND17,000 ($0.79) a share, while KBC increased 1.05 per cent to end at VND48,000 ($2.24) each.

In HCM City, the benchmark VN-Index edged up 0.3 per cent to close at 575.44 points, while the VN30, which tracks the top 30 shares by market value and liquidity, gained 0.41 per cent to stand at 603.76 points.

Increased trading by foreign investors also pushed up liquidity. The market volume climbed 80 per cent over Thursday, totaling 151.5 million shares, while the trading value more than doubled Thursday's value to reach VND3.15 billion ($147.2 million).

Property developer FLC Group (FLC) remained the most active code across the board with more than 33 million shares traded. The share price also surged 6.03 per cent to settle at VND12,300 a share ($0.57).

On the Ha Noi Stock Exchange, the HNX-Index also added 0.63 per cent to close at 85.13 points, thanks to gains of blue chips like Sai Gon-Ha Noi Bank (SHB), Sai Gon Thuong Tin Real Estate Co (SCR), Vinaconex (VCG), Asia Commercial Bank (ACB) and KLF Joint Venture Global Investment Co (KLF).

Overall trading declined, however, as the market volume dropped 20 per cent from the previous session to reach 37 million shares, while the value of trades decreased 10 per cent to VND524.4 billion ($24.5 million).

KLF was the most active stock here, trading 4.6 million shares and rising 1.85 per cent to finish at VND11,000 a share.

The foreign sectors also concluded yesterday as net buyers in Ha Noi, responsible for a net buy of nearly VND28 billion ($1.3 million). — VNS


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