Monday, December 5 2016

VietNamNews

Shares rise slightly on large-cap recovery

Update: November, 16/2016 - 09:27

Photo shows investors during a stock trading session. The benchmark VN-Index, the measure of 314 stocks on the HCM Stock Exchange, edged up 0.2 per cent to 674.3 points.  — Photo vnexpress.net

HÀ NỘI – Shares rose slightly on the two national stock exchanges yesterday as many large-cap stocks rebounded following the losing streak caused by uncertainty surrounding the newly-elected US president’s policies.

The benchmark VN-Index, the measure of 314 stocks on the HCM Stock Exchange, edged up 0.2 per cent at 674.3 points. It decreased 0.9 per cent on Monday.

On the Hà Nội Stock Exchange, the HNX-Index, which tracks 377 stocks, recouped Monday’s loss by bouncing 0.3 per cent at 81.1 points. It was down 0.3 per cent in the previous session.

Large-cap stocks recovered. Of the top 30 largest shares by market capitalisation, 17 advanced while only six tumbled.

Gainers included insurer Bảo Việt Holdings (BVH), Masan Group (MSN), PV Gas (GAS), software producer FPT Corp (FPT), PetroVietnam Drilling and Wells Service (PVD) and Saigon Securities Inc (SSI).

On the other end of spectrum, several high valued stocks such as dairy giant Vinamilk (VNM), real estate developer VinGroup (VIC), Military Bank (MBB) and Mobile World Group (MWG) continued to fall under heavy foreign selling pressure.

The foreign sector continued to be net sellers on the HCM Stock Exchange yesterday, responsible for a net sell value of VNĐ121 billion (US$5.4 million). This comes after they sold a net value of VNĐ272 billion on Monday.

Foreigners offloaded top stock Vinamilk’s shares for a net value of nearly VNĐ93 billion yesterday, far higher than their net sells on VinGroup’s shares of VNĐ9.4 billion. Vinamilk and VinGroup were also among foreign stocks sold most in the previous session.

VNM fell 0.7 per cent yesterday, extending its losses to three days in a row with a cumulative loss of 2.7 per cent. VIC also decreased 0.3 per cent, lifting its two-day decline to 2.8 per cent.

By contrast, the foreign sector concluded the session as net buyers in Hà Nội’s market, with a modest net buy value of nearly VNĐ10 billion.

Steel and coal shares continued their upward trend, thanks to sharp price rises in the global markets.

Leading firms in these sectors such as Hòa Phát Group (HPG), Tiến Lên Steel (TLH) Vinacomin – Núi Béo Coal (NBC), Bắc Giang Exploitable Mineral (BGM), Vinacomin – Hà Lầm Coal (HLC) and Lào Cai Mineral Exploitation & Processing (LCM) increased between 1.9 per cent and 8.7 per cent.

A total of 152 million shares worth VNĐ2.6 trillion were traded in the two markets, down 4.8 per cent in volume and 7.2 per cent in value compared to the previous session. – VNS

 

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