Sunday, May 19 2019

VietNamNews

Shares gain despite regional troubles

Update: May, 14/2019 - 06:44

 

A Vinamilk dairy farm in the southern province of Tây Ninh. The company's shares yesterday increased 2.92 per cent to VNĐ133,900 per each. — VNA/VNS Photo Đức Hoảng

HÀ NỘI — In spite of the drop of other Asian markets, Việt Nam had a good start on Monday as many large-caps gained ground.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange inched up 0.63 per cent to end at 958.54 points.

More than 232 million shares were traded on the southern bourse, worth VNĐ4.5 trillion (US$193 million).

The index ended last week at 952.55 points, for a total weekly loss of 2.22 per cent.

Asian stocks fell on Monday as hopes of an imminent trade deal between the US and China were broken with neither side showing any sign of concessions, raising concerns about a new round of tariffs.

Chinese shares dropped, with the benchmark Shanghai Composite and the blue-chip CSI 300 down by 1.2 per cent and 1.8 per cent, respectively, while Hong Kong’s financial markets were closed for a holiday.

Japan’s Nikkei average lost 1.0 per cent to hit its lowest level since March 28, before closing down 0.7 per cent.

Many large-cap stocks gained ground, strongly supporting the index, such as insurer Bảo Việt Holdings (BVH), FPT Corporation (FPT), Vincom Retail (VRE), Vinhomes (VHM), Vingroup (VIC), brewery Sebeco (SAB), Mobile World (MWG), Phú Nhuận jelwellery (PNJ) and budget carrier Vietjet Air (VJC).

The large-cap VN30-Index rose 0.36 per cent to stand at 879.64 points with 18 stocks gaining out of the 30 largest by market capitalisation.

Real estate, securities, banking, insurance, food and beverage and agriculture were among the best-performers.

Their indices rose between 0.40 per cent and 2.72 per cent, data on vietstock.vn showed.

On the opposite side, mining, wholesale and construction materials were among the decliners.

Gainers in the banking and securities groups included Bank for Investment and Development (BID), Vietinbank (CTG), Military (MBB), Saigon Securities Incorporation (SSI), VPBank (VPB), HDBank (HDB), Tiền Phong Bank (TPB) and Techcombank (TCB).

Mining stocks faced profit-taking pressures with PetroVietnam Gas JSC, PetroVietnam Drilling and Well Services Corporation (PV Drilling or PVD) and PetroVietnam Technical Services Corporation (PVS) declining.

Foreign investors continued selling strongly yesterday with a net of VNĐ116.87 billion on HOSE, focusing on steel maker Hòa Phát Group (HPG) (VNĐ49.4 billion), Vinhomes (VHM) (VNĐ38.3 billion) and HDBank (HDB) (VNĐ23.8 billion). In addition, they sold a net of VNĐ298.37 billion on the HNX.

On the Hà Nội Stock Exchange, the HNX-Index decreased by 0.23 per cent to close at 105.61 points.

The index fell 0.94 per cent last week to end at 105.61 points.

Around 44 million shares were traded on the northern bourse, worth VNĐ636 billion. — VNS

 

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