Thursday, October 27 2016


Markets edge back after declines

Update: June, 19/2015 - 08:10

Investors track securities trading at VPBank Securities Joint Stock Company. — VNS Photo Truong Vi

HA NOI (VNS) — Shares rebounded yesterday on the two exchanges after two days of declines, but liquidity continued to slip on rising investor caution.

On the HCM City Stock Exchange, the benchmark VN-Index edged up 0.26 per cent to close the session at 580.35 points.

Blue chips were mixed but strong growth of several large-cap stocks like Vietcombank (VCB), Vinamilk (VNM), Phu My Fertilizer (DPM), Sai Gon Securities Inc (SSI) and FLC Group (FLC) lifted the VN30 index by 0.37 per cent to end at 600.45 points.

FLC reclaimed the most active stock title by the end of the session with over 9 million shares traded. Its price also gained 1.1 per cent to settle at VND9,100 a share. Ocean Group (OGC) retreated to second place with 7.3 million shares, rising 3.7 per cent to VND2,800 each.

Overall liquidity continued to fall, however. The market volume dropped 25 per cent from the previous session to 98 million shares and trade value decreased 20 per cent, totaling VND1.56 trillion (US$71.6 million).

According to analysts at Bao Viet Securities Co, the market outlook remains positive based on encouraging macro-economic conditions and strong money inflows in the market.

"Liquidity declined in the recent 2-3 sessions but there're still big money flows waiting to join the market at the appropriate time," analysts wrote in a note.

On the Ha Noi Stock Exchange, the HNX-Index also added 0.7 per cent to conclude the session at 87.09 points.

The market condition was neutral with 96 stocks rising, 93 tumbling and 172 going flat.

Trading volume fell 30 per cent from Wednesday to 49 million shares and market value was down 20 per cent to VND591.2 billion ($27.1 million).

Sai Gon Thuong Tin Real Estate Co (SCR) was the most active code yesterday with 5.5 million of shares traded at VND8,400 each, up 2.44 per cent over the previous session.

Foreign investors continued to collect local shares, contributing to easing investors' worries. They picked up combined shares worth over VND48 billion ($2.2 million) in the two markets, down 50 per cent in value compared with Wednesday's level. — VNS

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