Monday, November 19 2018

VietNamNews

Blue chips boost VN-Index

Update: June, 24/2014 - 09:04
The VN-Index gained 5.14 points, or as much as 0.92 per cent, to end at 565.92 points, although decliners overwhelmed advancers by 114-81.— Photo qdnd

HA NOI (VNS) — The VN-Index on HCM City Stock Exchange closed up yesterday, putting a halt to a five-day losing streak, boosted by gains of large-cap stocks.

However, the benchmark index extended its loss for four consecutive days on the Ha Noi Exchange, following a sluggish trading session.

The VN-Index gained 5.14 points, or as much as 0.92 per cent, to end at 565.92 points, although decliners overwhelmed advancers by 114-81.

The gain was mainly registered by market pillars, including PetroVietnam Gas Corporation (GAS), Masan Group (MSN), Vingroup (VIC) and Vietcombank (VCB).

Further, MSN jumped by 3.8 per cent to VND92,000 (US$4.3) a share, while VIC and GAS, respectively, added 1.57 per cent and 0.95 per cent.

Of note, Hoa Sen Group (HSG) rose by 5.8 per cent to VND44,800 ($2.1) per share.

With gainers overwhelming losers by 14-9, the VN30-Index rose by 0.45 per cent to 609.99 points.

Selling pressure remained high during the trading session, but buyers were not willing to inject money, resulting in low liquidity. The capital inflow was only aimed at stocks in the VN30 package.

With 62.5 million shares changing hands, the trading value was modest at VND1.06 trillion ($50 million).

Tan Tao Group (ITA) saw a significant trading volume with more than 4.1 million shares changing hands, as foreign investors purchased more than 973,000 shares, only second to FLC Group (FLC) with nearly 4.27 million shares traded.

Becamex IJC (IJC), Sai Gon Securities (SSI), Hoang Anh Gia Lai (HAG) and Vietcombank (VCB) also had trading volumes of more than 1 million shares.

The HNX-Index on the Ha Noi Exchange fell 0.43 per cent to end at 75.98 points and the HNXFF-Index, composed of stocks with minimum free float rate of 5 per cent, ended 0.54 per cent lower at 76.45 points as investors were in a cautious mood.

Also, the trading volume and value declined over the previous trading sessions with only 28.4 million shares traded, valued at VND342 billion ($16.2 million).

Blue chips failed to support the benchmark indices with the HNX30-Index, tracking the capital city's top stocks, seen dropping by 0.88 per cent to 151.28 points.

According to Viet Nam Investment Securities, the market might temporarily level off after the review of exchanges traded fund portfolios with a lack of supportive information, as local investors were cautious while foreign investors continued as net buyers. — VNS

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