Saturday, August 18 2018

VietNamNews

Shares rebound on blue-chips

Update: May, 05/2018 - 10:16
Investors track their stocks in Maybank KIM ENG floor in HCM CIty. — VNA/VNS Photo Hoàng Hải
Viet Nam News

HÀ NỘI — Shares rebounded yesterday as large-cap stocks returned to positive territory following the index’s two-day decline.

The benchmark VN Index rose nearly 0.03 per cent to close at 1,026.80 points. It had fallen 0.25 per cent in the previous session.

On the Hà Nội Stock Exchange, the HNX Index increased by 0.05 per cent to end Friday at 122.57 points after having gained 1.27 per cent in the previous session.

More than 241.7 million shares were traded on the southern bourse, worth VNĐ5.9 trillion (US$262 million).

The market trading condition was balanced with 243 advancing stocks, 213 losing ones and 286 stocks closing flat.

Large-cap stocks performed well as the VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation and trading liquidity, rose 0.05 per cent to 1,010.89 points.

Among the leading sectors, shares of construction, real estate and mining industry were the best gainers with those industry indices rising 1.03 per cent, 0.99 per cent and 0.82 per cent, respectively.

The four stocks Coteccons Construction Joint Stock Company (CTD), Vietjet Aviation Joint Stock Company (VJC), PetroVietnam Gas Joint Stock Corporation (GAS) and Military Bank (MBB) advanced from 1.5 to 3.5 per cent. They were also among the four best-performing stocks in the VN30 Index.

According to BIDV Securities JSC (BSC), compared to negative sentiment in previous sessions, investors’ sentiment has been more stable but still skeptical.

“The market opened in green but did not hold long, both indexes fluctuated up and down. Stocks such as banks, securities and real estate stocks saw mixed tickers, no longer being sold out in groups as in the previous sessions,” BSC said

“In the current context, investors should limit the disbursement of large proportions, and in recovery sessions should sell to keep the margin proportion safe for the account,” it added.

Bảo Việt Securities Co wrote in its daily report that US-China trade talks enter their second day in a positive light. However, officials declined to give details of the discussions.

The Hà Nội-based securities firm wrote in its daily report that the discussions could dent humming global economic growth, thereby affecting world stocks.

“However, from our view, the two nations can hardly reach an open agreement that could ease the conflict between the two economies. China is likely to make moderate concessions and whether China would fulfill the commitment or not is left uncertain.”

The market witnessed more positive movement Friday with higher bottom-fishing demand, raising the number of gainers and opening up the possibility of a recovery early next week. However, liquidity remained low, BVSC said. — VNS

 

 

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