Thursday, September 21 2017

VietNamNews

City shares maintain uptrend

Update: March, 02/2013 - 00:00
HA NOI (VNS) — Shares continued their recent uptrend on the HCM City exchange, with the benchmark VN-Index gaining another 0.55 per cent yesterday to close at 477.15 points.

Gains of blue-chips again supported the upward movement on improved trading. The VN30, tracking the top 30 shares by market capitalisation and liquidity, edged up 0.37 per cent to close at 547.70 points.

The value of trades rose 28 per cent over the previous session, totalling more than VND1 trillion (US$47.8 million).

The FTSE Viet Nam ETF (exchange traded fund) announced which shares will be included in the FTSE Viet Nam Index yesterday. Vietinbank (CTG) will be removed from the list, replaced by logistics firm Gemadept (GMD).

Foreign investors have unloaded CTG shares for the last six sessions. The bank share recovered yesterday, regaining 1.5 per cent to settle at VND20,300 ($0.97) a share.

The FTSE Viet Nam, which started operations in January 2008, saw its total assets reach $373.7 million by the end of 2012. It reviews the Index quarterly. The newest change will take effect next week.

The most active share on the southern bourse yesterday was again Tan Tao Investment Industry (ITA) with total trades of nearly 3.5 million shares. The shares closed flat at VND7,900 per share.

Meanwhile on the Ha Noi Stock Exchange, the HNX-Index rebounded at the last minute, posting a modest gain of 0.35 per cent to finish at 62.78 points.

Trading was sluggish as barely 51 million shares, worth VND322 billion ($15.4 million), were exchanged by the end of the session.

Sai Gon-Ha Noi Bank (SHB) led the trades on the northern market with eight million shares changing hands, but the shares closed unchanged at VND7,400 a share.

According to most analysts, rallies were weak as investors had not yet returned to a stable mindset.

"The new draft on the maximum percentage of foreign ownership in financial institutions kept the rate unchanged at 30 per cent, disappointing many investors," stock analysts of HCM City Securities Co wrote in a report.

However, the uncertainty of the gold market, weighed down by steep price plunges after an intervention by the central bank that aimed to narrow the gap between domestic and world prices, is expected to bring more investors into the equity market, according to FPT Securities Co's analysts.

Foreign investors were once again net buyers on both exchanges yesterday, picking a combined VND330.4 billion ($15.8 million) worth of shares. — VNS

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