Sunday, July 23 2017

VietNamNews

Shares end 2016 on positive note

Update: December, 31/2016 - 09:00
Investor watches stock moves. The benchmark VN Index closed up on the last trading day of 2016, gaining 14.8 per cent in the past year. — Photo laodong.com.vn
Viet Nam News

HÀ NỘI — Shares ended the last trading session of the year yesterday on a positive note on both local bourses, driven by increasing demand for large-cap stocks during the closing period of the day.

The benchmark VN Index on the HCM Stock Exchange closed slightly up at 664.87 points, totaling a two-day gain of 0.2 per cent.

The HNX Index on the Hà Nội Stock Exchange finished at 80.12 points, up 0.7 per cent from Thursday and 1.6 per cent since Tuesday.

The southern market index has risen 14.8 per cent since December 31, 2015, while the northern market index remained nearly flat after one year.

Market trading liquidity surged from the previous sessions of the last trading week with more than 154 million shares being traded across the two bourses, worth VND3.24 trillion (US$144 million).

That included more than 43.3 million shares, worth VND1.13 trillion, which were traded via put-through transactions.

The stock market remained negative and quiet most of the time during the last trading session, but investors’ strong demand boosted large-cap stocks in the At The Close Order (ATC) period.

Among the 10 largest shares by market capitalisation, seven advanced, including Sài Gòn Beer-Alcohol-Beverage Corp (SAB), property developer and retailer Vingroup (VIC), private equity firm Masan Group (MSN) and Faros Construction Corp (ROS).

SAB gained 0.4 per cent, VIC inched up 0.2 per cent, MSN rose 1.4 per cent and ROS increased by 1 per cent.

The energy sector also contributed to the market’s gains yesterday after oil prices rose higher on confidence for a production cut that could begin in early 2017.

US crude West Texas Intermediate (WTI) was traded at $53.82 a barrel, slightly higher than Thursday’s closing price.

Among local energy stocks, PetroVietnam Gas Corp (GAS) added 1.5 per cent, PetroVietnam Drilling and Well Services Corp (PVD) and PetroVietnam Technical Services Corp (PVS) advanced 2.5 per cent each.

The banking sector was the worst hit among 20 industries on the stock market, as the Bank for Investment and Development of Viet Nam (BID) and Eximbank (EIB) dropped 0.7 per cent and 6.2 per cent, respectively, while Vietcombank (VCB), Asia Commercial Bank (ACB) and Sài Gòn-Hà Nội Bank (SHB) ended flat.

The food and beverage industry was driven down by dairy producer Vinamilk (VNM), which fell 2.3 per cent. The stock suffered from profit-taking after increasing by 5 per cent in the previous three sessions. — VNS

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