Wednesday, November 21 2018


Stocks bounce back strongly

Update: February, 07/2013 - 00:00

Investors watch a trading board at VNDirect Securities in Ha Noi. — VNS Photo Viet Thanh

HA NOI (VNS)— Shares reversed the previous day's losses to add value during yesterday's session.

On the HCM City Stock Exchange, the VN-Index rose 2.3 per cent to 488.36 points with gainers outnumbering losers 187-60.

Trading value dropped 12.6 per cent compared to Tuesday's sessions but remained relatively high at over VND1.18 billion (US$56.19 million) for 65.1 million shares.

Among the 30 leading shares in terms of capitalisation and liquidity tracked by the VN30 Index, only private equity firm Masan Group (MSN) and Sacombank (STB) closed unchanged and none of the shares retreated.

Notably, five stocks hit their ceiling prices, including insurer Bao Viet Holdings (BVH), Ocean Group (OGC), Da Nang Rubber (DRC), logistic company Gemadept and PetroVietnam Finance (PVF).

The VN30 Index celebrated its first year of operations by increasing nearly 2.4 per cent to 570.03 points.

On the Ha Noi Stock Exchange, the HNX-Index enjoyed a 2.17 per cent increase to 64.13 per cent.

Stocks that advanced tripled those that declined. Around 51.4 million shares worth VND414.8 billion ($19.7 million) changed hands, rising 17 per cent over Tuesday's level.

The HNX30 Index, representing the performance of the northern bourse's top shares, closed 2.9 per cent higher at 126.30 points.

Foreign capital boosted the market yesterday. The guarantee for Vietnam Shipbuilding Industry Group's (Vinashin) loans helped convince foreign investors to pour money into the Vietnamese market, said analysts for the financial website "The stay of foreign capital flows has encouraged domestic investors to trust in stocks," they added.

Information showed that overdue debts worth $600 million and the amount of interest payable by Vinashin would probably be restructured by a bond guaranteed by the Ministry of Finance.

Foreign investors were net sellers in HCM City yesterday by a margin of VND42.8 billion ($2 million). However, their selling was mainly through the negotiation method and focused on MSN prices. Meanwhile, they bought many blue chips tracked by the VN30, contributing to yesterday's boost. In Ha Noi, foreign investors were sellers by nearly VND9.7 billion ($461,900). — VNS

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