Saturday, December 3 2016

VietNamNews

Large-cap shares help to lift markets in Viet Nam

Update: April, 13/2015 - 08:31

Investors watch stock trading at the Hoang Gia stock trading floor. They remain cautious even though the recovery of large-cap stocks boosted the market during the final two trading sessions last week. — VNS Photo Truong Vi

HA NOI (VNS) — Even as stocks continued to slide at the beginning of last week, the recovery of large-cap stocks helped to boost the market during the final two trading sessions.

However, investors remained cautious, as their investments restrained the market's recovery and created strong fluctuations during trading sessions.

On the HCM City Stock Exchange, the VN-Index rose 1.13 per cent and reached 554.03 points by the end of last week. In addition, the VN30, which tracks the market's top 30 shares in terms of value and liquidity, surged 0.98 per cent to end at 583.34 points.

The market declined during the sessions on Monday and Wednesday, as the market value of blue chips, including Ma San Group (MSN) and Vingroup (VIC), fell. As the largest stock in terms of market value, GAS drove the market down, recording a decline during last week.

On the contrary, MSN and VIC helped the market recover through their trading and business information.

MSN was the most attractive stock for investors, as they saw a total net buying value of VND232.8 billion (US$10.9 million) for this code last week. VIC's market value rose on Friday after its purchase of Vinatexmart, Vinatex's chain of textile and garment stores, was completed.

Moreover, bank stocks, including Vietinbank (CTG), Bank for Investment and Development of Viet Nam (BID) and Vietcombank (VCB), helped to improve the market in the other three sessions.

Liquidity continued to show margin-al improvements in the HCM City market, with the trading volume falling by 7.04 per cent to 89.5 million shares, valued at VND1.69 trillion ($79.2 million) per session, an increase of 7 per cent from that posted the previous week.

Investors also poured money into speculative stocks in the sectors of construction, real estate and securities businesses, which had a positive impact on the market.

On the Ha Noi Stock Exchange, the HNX-Index also increased by 1.28 per cent to close at 82.98 points on Friday.

With the support of blue chips, the market's trading showed slight improvements, as well. The market volume rose by 2.18 per cent to reach nearly 38 million shares per session, worth VND466.2 billion ($21.8 million).

Furthermore, foreign investors were net buyers last week in both markets, with a total net buying value of VND140 billion ($6.54 million), including VND116.5 billion on the HCM City market and VND23.4 billion ($1.09 million) on the Ha Noi market.

According to analysts at Bao Viet Securities Company, the market can improve in the short-term period, as macro- and micro-economic development remains promising.

The short-term improvement of the stock market may also result from investors' confidence, especially that of foreign investors, which is becoming stronger.

However, investors should avoid purchasing high-valued stocks, as risks are expected during this week's sessions. — VNS



Send Us Your Comments:

See also: