Monday, June 1 2020


Gas shares keep markets positive

Update: June, 11/2015 - 09:52
Investors trace market fluctuations at Rong Viet Stock Trading Floor in HCM City. — VNS Photo Pham Hau
HA NOI  (VNS) — The national stock market stabilised yesterday and is expected to grow as market liquidity stayed high and cash flow into the market remained strong.

Gas shares were the main players holding the market in a positive direction, while bank shares disappointed investors.

Foreign investors yesterday turned from net buyers into net sellers on the southern market, with a net selling value of VND105 billion (US$4.8 million) and a small buying value of VND7.7 billion ($357,000), marking a 45 per cent decrease in the latter.

On the HCM City Stock Exchange, the VN-Index fell by only 0.06 per cent to finish at 574.1 points, a smaller decrease compared to Tuesday.

Ninety-eight of all stocks on the market made gains, while 107 of them suffered losses.

Market liquidity decreased, with more than 133.5 million shares traded, worth a total of VND2.14 trillion ($99 million).

FLC Group (FLC) and HCM City Infrastructure Investment JSC (CII) were the most active codes, with nearly 29 million shares being traded in total. FLC rose by 3.3 per cent, while CII dropped 1.29 per cent.

Bank shares pulled the market down. Among them, only Military Bank (MBB) made a slight increase of 0.72 per cent to stand at VND13,900. In contrast, Vietcombank continued to fall, with a loss of 2.03 per cent, to VND43,300.

However, the market avoided deeper losses as most of the gas codes made gains. Three large-cap gas stocks, PetroVietnam Gas Corporation (GAS), PetroVietnam Drilling and Well Service Corporation (PVD) and Petroleum Equipment Assembly and Metal Structure JSC (PXS), were up 1.6, 0.94 and 6 per cent, respectively.

Real-estate stocks delivered an impressive performance, with many hitting their ceiling prices, including Dat Xanh Real Estate Service & Constructions Corporation (DXG), LICOGI 16 Joint Stock Company (LCG) and Cuong Thuan Investment Corporation (CTI).

On the Ha Noi Stock Exchange, the HNX Index gained 0.52 per cent to end at 87.5 points, with 104 advancing stocks and 80 declining ones.

However, market liquidity fell sharply from Tuesday's numbers. More than 54 million shares were traded, worth VND688 billion ($31.8 million).

On the northern bourse, gas shares provided a major contribution to market growth. All three large-cap shares, PetroVietnam Construction JSC (PVX), Drilling Mud Corporation (PVC) and Petroleum Technical Services Corporation (PVS), rose by 2.33, 5.24 and 1.45 per cent.

Four stocks traded more than 3 million shares, including KLF Joint Venture Global Investment JSC (KLF), FIT Investment JSC (FIT) and[S1] Sai Gon Commercial Real-estate JSC (SCR). Among them, only FIT rose, showing an increase of 1.26 per cent to finish at VND16,100 per share.

Ha Noi Investment General Corporation (SHN) was unable to keep hitting the ceiling price but managed to increase sharply by 8.95 per cent to VND20,700, with nearly 724,000 shares being traded. — VNS

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