Friday, October 21 2016


ETF trading drives VN-Index

Update: June, 20/2015 - 08:26
Investors watch trading at Vietcombank Securities Co's transaction floor. The VN-Index on the HCM City Stock Exchange closed yesterday's session at 584.70 points and the HNX-Index on the Ha Noi Stock Exchange closed flat at 87.10 points. — VNS Photo Truong Vi

HA NOI (VNS)— Shares extended their rallies for a second straight day on the HCM City Stock Exchange yesterday, propped up by trading for portfolio-restructuring of exchange-traded funds (ETFs).

Active trading by the two ETFs, including FTSE and VNM, particularly on blue chips, had a positive impact on investor psychology and helped lift a market weighed down by strong profit taking pressure.

The benchmark VN-Index added 0.75 per cent to close the session at 584.70 points, while the VN30, which tracks the top 30 shares by market value and liquidity, was up 0.47 per cent to end at 603.26 points.

Overall market condition was good as advancers outnumbered decliners by 124-78, led by blue chips. Eighteen of the 30 biggest shares gained value.

Bank stocks returned to be the growing momentum of the market. Vietcombank (VCB), BIDV (BID) and Sacombank (STB) increased 2.5-3.5 per cent, while Vietinbank (CTG) rose by a more modest 0.5 per cent.

STB, with the support of heavy buys by foreign investors (VND434.4 billion, or US$20 million) became the most active by the end of yesterday's session. The lender saw a whopping 24 million shares traded, climbing 2.7 per cent to finish at VND19,000 ($0.87) a share.

FLC retreated to second place with almost 22 million shares changing hands, leaping 2.2 per cent to settle at VND9,300 each.

Liquidity improved as both market volume and value doubled the previous session's levels, totalling more than 201 million shares worth VND3.5 trillion ($160.6 million).

Foreign investors were responsible for a net buy value of nearly VND187 billion ($8.6 million) in the HCM City's market yesterday, a boost compared with a meager net buy of nearly VND22 billion ($1 million) on Thursday.

Without the support of trading by ETFs, the HNX-Index on the Ha Noi Stock Exchange closed flat at 87.10 points. It was traded below the reference line in most trading time in the afternoon.

The losers outnumbered the gainers by 101-84, while the other 175 were flat.

Liquidity also increased as market volume rose 10 per cent over Thursday to reach nearly 56 million shares, while value of trades was up 20 per cent to VND687.2 billion ($31.5 million).

Sai Gon Thuong Tin Real Estate Co (SCR) remained the most active code with 5.1 million shares, but its prices fell 1.2 per cent to conclude at VND8,300 a share.

Foreign investors also extended net buys here, picking shares worth VND76.5 billion ($3.5 million), up 350 per cent over the previous session. — VNS

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