Tuesday, December 6 2016

VietNamNews

Investors hunt mid, small-cap shares

Update: September, 26/2015 - 09:13

Brokers at Tan Viet Securities Incorporate. Yesterday, money flew towards medium and small-cap shares as the situation remained uncertain. — VNS Photo Doan Tung

HA NOI (VNS)— Shares closed almost unchanged yesterday on the HCM Stock Exchange despite trading in the negative zone for most of the time. Mid-cap and small-cap stocks were the main support.

The benchmark VN-Index closed at 570.4 points, up 0.02 per cent from Thursday's level. Advancers outnumbered decliners by 114-95 and 73 ended unchanged.

While blue chips lost steam, mid-cap and small-cap stocks increased, cushioning the market fall.

The VN30 which tracks the top 30 shares by market value and liquidity was down 0.22 per cent, but the VNMid Index and VNSmall Index advanced 0.74 per cent and 0.31 per cent, respectively.

"Money seemed to flow in realty stocks and has spread to many medium and small-cap shares to seek opportunities, particularly in the context of outlook uncertainty," analysts at VNDirect Securities Co wrote in a report.

Half of the top 10 most active stocks yesterday were mid- and small-cap stocks, including Hoang Huy Investment Services (HHS), Quang Nam Rubber Investment (VHG), F.I.T Investment (FIT), Dat Xanh Real Estate Service & Construction (DXG) and Bac Giang Exploitable Mineral (BGM). Each stock saw trades of 1.5-3 million shares.

However, liquidity remained low with just 79 million shares worth VND1.88 trillion (US$83.6 million) being traded by the end of the session. These figures were down 26 per cent in volume but up 18 per cent in value compared with Thursday's levels.

HCM City Infrastructure Investment (CII) was the most active with almost 3.2 million shares, but its price dropped 1.3 per cent to end at VND23,300 ($1.01) a share.

On the Ha Noi Stock Exchange, the HNX-Index climbed for an eighth day, adding another 0.1 per cent to 78.7 points. It has risen 2.7 per cent in the past eight days.

Overall market condition was not good, however, as the losers outnumbered the gainers by 89-78 while other 194 closed unchanged.

The rally of some key large-cap stocks, such asa Asia Commercial Bank (ACB) and Port of Hai Phong (PHP) and An Phat Plastic & Green Environment (AAA) propped up the exchange.

PHP hit the daily rising limit of 10 per cent while AAA rose 4 per cent and ACB increased 1 per cent.

Liquidity dropped yesterday as both trading volume and value were down 31 per cent, totalling almost 29 million shares worth VND343.2 billion ($15.3 million).

KLF Joint Venture Global Investment (KLF) remained the most active stock here with 2.7 million shares, closing unchanged at VND4,500 a share.

Foreign investors extended their net selling streak to six days in a row, unwinding shares worth VND263.3 billion ($11.7 million) in the two markets. They were responsible for a total net sell value of VND789 billion ($35.1 million) in the past six days. — VNS



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