Friday, February 28 2020


Stocks extend gains as blue chips rally

Update: December, 24/2014 - 09:17

Investors follow transactions at FPT Securities Company in Ha Noi. Liquidity on the Ha Noi Stock Exchange improved yesterday. — VNS Photo Thai Ha

HA NOI — Stocks climbed for the second day on both exchanges yesterday, but growth slowed towards the end of the session due to fear of a bull-trap.

On the HCM City Stock Exchange, the benchmark VN-Index inched up just 0.06 per cent to close at 537.88 points.

Blue chips were again the market momentum as many large-cap stocks gained value, including Bao Viet Holdings (BVH), Masan Group (MSN), Sacombank (STB) and Vietcombank (VCB).

The VN30, which tracks the top 30 shares by market value and liquidity, rose 0.35 per cent to end at 589.61 points.

According to many analysts, investors were cautious as the government planned to announce economic data forecasts within the next few days.

The market condition was negative with losers outnumbering gainers by 123-80. Liquidity jumped, however, with over 110 million shares worth VND3.462 trillion (US$161.8 million) traded, up 10 per cent in volume and 50 per cent in value compared with Monday's levels.

Financial Ocean Group (OGC) concluded the session as the most active code on trades of 10.6 million shares, but the share price declined 6.5 per cent to end at VND7,200.

On the Ha Noi Stock Exchange, the HNX-Index closed up 0.16 per cent at 82.42 points on modest turnover of VND418.4 billion ($19.6 million). Liquidity also improved as both market volume and value climbed 20 per cent over the previous session, totaling 50 million shares worth VND685.3 billion ($32 million).

KLF Joint Venture Global Investment Co (KLF) was again the most heavily-traded stock with 11.3 million shares traded, but the price plummeted 5.93 per cent to VND11,100.

Foreign investors remained net buyers in both markets, responsible for a combined net sell value of VND104 billion ($4.9 million) worth of shares. — VNS

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