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VietNamNews

Improved liquidity gives slight reprieve to local stock markets

Update: June, 26/2014 - 08:48
The VN-Index added 2.53 per cent or as much as 0.44 per cent to end at 572.23 points while the HNX-Index rose 146 per cent to end at 77.75 points.— Photo hanoimoi

HA NOI  (VNS)  — Despite significant capital inflow into the market yesterday with hundreds of stocks posting gains and the HNX-Index approaching a new point band, the southern index just advanced with narrow gains.

The VN-Index added 2.53 per cent or as much as 0.44 per cent to end at 572.23 points while the HNX-Index rose 146 per cent to end at 77.75 points.

The market witnessed improved capital inflow over the previous trading sessions as investors boosted buying activities with rising expectations from the coming second quarter business results.

On HCM City Stock Exchange, with more than 96.4 million shares changing hands, the total value reached VND1.6 trillion (US$76.1 million). The figures on the capital city's bourse were respectively 63.2 million shares and VND686.8 billion ($32.3 million).

Blue chips continued to lead market gains yesterday with the VN30-Index, composed of the southern bourse's largest stocks by market value and liquidity, rising by 0.91 per cent to 618.1 points.

In the VN30 package, there were only three losers. These were Vietinbank (CTG), Masan Group (MSN) and PetroVietnam Low Pressure Gas Distribution (PGD) which narrowed down the gains at the VN-Index yesterday.

PetroVietnam General Services Corporation (PET) added VND1,100 ($0.047) a share to end at its ceiling price of VND17,000 ($0.8).

Other big gainers included Da Nang Rubber Corporation (DRC), Ocean Group (OCG), Military Bank (MBB) and Vinamilk (VNM).

Overall, there were 143 advancers on the southern bourse and 49 decliners.

On the northern bourse, benchmark indices witnessed solid gain as investors' confidence improved after Tuesday's gain with 123 codes ending higher, doubling losers.

With the HNX-Index approaching 78 points, the HNXFF-Index, composed of stocks with a minimum free float rate of 5 per cent, rose by 1.58 per cent to 78.16 points.

Large-cap stocks performed as major supporters yesterday, with the HNX30-Index tracking the top stocks rising by 1.97 per cent to 156.13 points.

FPT Securities saw improved liquidity as the market's highlight yesterday. However, the company, while urging investors to be cautious, said technical indicators showed that benchmark indices were struggling and might face losses in the trading sessions of the week.

Viet Nam Investment Securities also predicted difficult trading today. Still, stocks with promising business results would continue to attract capital inflow, the company said. — VNS


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