Sunday, February 23 2020


Shares up despite investor caution

Update: December, 08/2014 - 08:00

Investors follow market beats at Dai Duong Securities Inc.Blue chips continued to lead the market rally last week, though transactions were erratic. — VNA/VNS Photo Tran Viet

HA NOI (VNS) — Overall, shares rose last week, though investor sentiment remained cautious.

On the HCM City Stock Exchange, the VN-Index finished at 578.76 points, up 2.16 per cent over the previous week.

The HNX-Index on the Ha Noi Stock Exchange also improved by 1.37 per cent to reach 88.63 points.

Meanwhile, the average market value on both exchanges declined to VND1.96 trillion (US$92 million) in HCM City and VND829.3 billion ($38.9 million) in Ha Noi.

The declines in the preceding week lured investors back to help indexes gain value. However, the caution prevailed, hampering the rising momentum of the two bourses and causing liquidity to decrease throughout the sessions.

Further, blue chips continued to lead the market rally, though transactions were erratic.

Cash flow shifted quickly between sectors, as it focused on logistics shares during the first two days of the week, then concentrated on purchasing securities stocks on Wednesday. Meanwhile, in the final three sessions, banking stocks were favoured.

Construction and real estate shares also outperformed several other sectors, though the momentum weakened.

Trading on some specific shares was also affected by activities of foreign funds last week. Typically, Sai Gon Securities Inc (SSI) was added to the FTSE Viet Nam Index, while Sacombank (STB), Da Nang Rubber (DRC) and Vinh Son – Song Hinh (VSH) were excluded.

At the same time, FTSE Viet Nam All-Share Index added construction firm Sudico (SJS), beverage company Vinh Hoan (VHC) and Viet Nhat Medical Instrument (JVC) to its portfolio, while removing Eximbank (EIB) and Binh Minh Plastic (BMP).

Although foreign investors reversed their status to buy shares on Thursday and Friday, they still concluded the week as net sellers by a margin of nearly VND78.7 billion ($3.7 million). Also, property developer Hoang Anh Gia Lai (HAG) rose as a notable listed code when foreign investors sold it at a net VND242 billion ($11.3 million).

Of note, Sai Gon Securities Inc's director of retail research and investment advisory predicted last week's trend would continue for several additional sessions to accumulate in a rally. — VNS

Send Us Your Comments:

See also: