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Upward trend seen continuing for markets in both major cities

Update: September, 13/2014 - 09:14
In HCM City, the benchmark VN-Index added 0.56 per cent to reach 632.50 points.— Photo xaluan
HA NOI (VNS)  — Shares slightly gained on the stock exchanges of HCM City and Ha Noi yesterday, and analysts predict this trend to continue next week.

In HCM City, the benchmark VN-Index added 0.56 per cent to reach 632.50 points. The value of trades reached VND2.4 trillion (US$113.2 million) on a total volume of nearly 144.1 million shares.

Among the 30 blue chips tracked by the VN30 Index, which rose by 0.7 per cent to 669.78 points, commercial baker Kinh Do (KDC) was the top gainer with a 5.8 per cent increase. Only six of the 30 stocks lost value.

On the Ha Noi Stock Exchange, the HNX-Index maintained its increasing spiral by adding 1.23 per cent to finish yesterday's session at 89.49 points. In the past three sessions, the index rallied more strongly than the southern benchmark.

The HNX30 Index, formed by the bourse's leading shares in capitalisation and liquidity, climbed by 1.7 per cent to stand at 184.84 points. Trading value reached VND1.23 trillion ($58 million) as over 88.6 million shares changed hands.

Transactions on penny stocks and seafood stocks helped to lift the indices, especially those of Petroleum Real Estate (PVL), Petro Dong Do (PFL), Vinaconex-PVC Construction Investment (PVV) and An Pha Petroleum (ASP), as well as Hung Vuong (HVG), Ca Mau Frozen Seafood (CMX), Anvifish (AVF) and An Giang Fisheries (AGF).

Foreign investors ended yesterday as net sellers by a margin of VND55.3 billion ($2.6 million).

According to FPT Securities Company analysts, the VN-Index had a chance to increase further and form new highs. "However, it relies much on leading stocks, which have recently been more sluggishly traded than before," they noted in their report.

Next week, exchange-traded funds will continue restructuring their portfolios, and this will help cash flow into the market move more positively, the analysts said. In addition, corporate operation results in the third quarter might have more impact on shares. — VNS


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