|Investors follow transactions at An Binh Securities Company in Ha Noi. On the Ha Noi Exchange, the selling pressure dragged down the benchmark indices with the HNX-Index losing 0.51 per cent to 77.35 points. — VNS Photo Truong Vi
HA NOI (VNS) — Shares rose on the HCM City Exchange with significant inflow of speculative capital, but fell on the northern bourse yesterday.
The VN-Index added 4.13 points or as much as 0.72 per cent to end at 576.4 points, supported by gains of stocks in the VN30 package with advancers overwhelming decliners by 15-7. The index, tracking the performance of the largest stocks by market value and liquidity, edged up 0.29 per cent to 619.91 points.
However, on the Ha Noi Exchange, the selling pressure dragged down the benchmark indices with the HNX-Index losing 0.51 per cent to 77.35 points and the HNXFF-Index, composed of stocks with minimum free float rate of 5 per, falling by 0.4 per cent to end at 77.79 points.
On the southern bourse, FLC Group, a property company, was the market highlight yesterday, thank to its promising profits in the first half of this year. The stock was in high demand, and that pushed the value 6.5 per cent higher than its ceiling price of VND11,400 (54 US cents) a share with significant trading volume of 22.23 million shares.
After FLC, other property companies, including Tan Tao Group (ITA), Hoang Quan Corporation (HQC) and Hoang Anh Gia Lai (HAG) were leading the bourse in trading volumes yesterday.
Market pillars ended mixed as PetroVietnam Gas Corporation (GAS) and Vinamilk (VNM) posted gains while Masan Group (MSN) and Vingroup (VIC) shed value which narrowed down market gains yesterday.
Speculative stocks attracted capital inflow yesterday, boosting the southern bourse's liquidity. Nearly 124 million shares were changing hands on the southern bourse yesterday, worth VND1.99 trillion (US$94.7 million), 24 per cent higher than the previous trading session.
On Ha Noi Exchange, with 57.5 million shares traded, the trading value reached VND633 billion ($30.1 million), slightly lower than Wednesday. Tracking large-cap stocks, the HNX30-Index fell 0.2 per cent to end at 155.82 points.
Foreign investors bought heavily into HAG and ITA with more than 1 million shares purchased.
They purchased a net VND130 billion ($6.1 million) shares yesterday.
VCB Securities' report indicated that the Viet Nam stock market had an attractive price-earnings ratio in comparison with other markets in the region, which appealed to foreign investors.
According to FPT Securities, information related to the first half of the year's profits of companies helped attract the capital inflow and some stocks witnessed excessive buying.
The VN-Index would be challenged at 580 points, the company said, adding that investors should remain cautious with short-term profit booking activities. — VNS