Thursday, November 22, 2018 2:53:52 AM - Markets open
VN-INDEX 922.56 +3.54/+0.39%
HNX-INDEX 103.90 -0.01/-0.01%
UPCOM-INDEX 52.06 +0.00/+0.00%
Stocks set to rise further in last week of 2017 - 12/25/2017 10:40:18 AM
 (0 ratings. You must sign in to rate.)
Stocks on the national exchanges are expected to rise further in the last week of 2017, boosted by positive macro economic development and foreign traders.
The benchmark VN-Index on the HCM Stock Exchange recovered from two declining weeks, gaining 1.83 per cent last week to close at 952.32 points on Friday.
On the Hà Nội Stock Exchange, the HNX-Index increased 1.28 per cent after five sessions last week, ending Friday at 113.03 points.
Liquidity declined slightly from the previous session, averaging 242.3 million shares worth VNĐ5.4 trillion (US$237 million) being traded through order matching per session on the two exchanges.
According to Lê Đức Khánh, deputy director at PetroVietnam Securities Inc’s analysis division, Việt Nam’s upbeat economic results in 2017 as well as bright prospects for 2018 will continue to be a major supporting factor for the local stock markets in the medium term.
Việt Nam’s GDP is forecast to meet its annual target of 6.7 per cent by the year-end after recording a sharp increase of 7.4 per cent in the third quarter. The Government will retain the target for 2018, including inflation of below 4 per cent.
Strong foreign capital inflows as well as high credit expansion (about 18 per cent in 2018) are expected to continue supporting market expansion, Khánh said.
In the stock market, large-cap stocks continued to drive the market, mostly oil and gas and bank stocks.
Gains in global oil prices helped push up local oil and gas shares. Though P-shares were not among the top 10 gainers, most of them were among top 30 rising stocks out of over 700 listings in the two markets.
The biggest listed stock, PV Gas (GAS), rallied nearly 7 per cent last week, while Petrolimex (PLX) increased over 6 per cent, and PetroVietnam Drilling and Well Services (PVD) gained over 4 per cent.
Other smaller firms, like PetroVietnam Technical Services (PVS) and PetroVietnam Drilling Mud (PVC), jumped over 13 per cent and 12 per cent, respectively.
On the New York Mercantile Exchange, the US light crude posted a 2 per cent weekly rise, trading at $58.47 per barrel while the Brent crude gained 3.2 per cent to $65.25 a barrel.
With positive earning prospects, bank stocks also posted a winning week with big lenders such as Vietcombank (VCB), BIDV (BID) and Việt Nam Prosperity Bank (VPB) climbing 4-10 per cent each.
According to Trần Anh Tuấn, head of analysis at Vietcombank Securities Co, the outlook for the banking sector remains positive next year thanks to positive credit growth, supportive policies and banks’ efforts in dealing with bad debts.
“A number of bank shares have gained substantially, and I think bank shares will still be an important sector leading the market uptrend next year,” Tuấn was quoted as saying on securities website
Strong foreign buys
Foreign traders purchased a total net value of over VNĐ1.1 trillion on the two exchanges, with HCM City garnering the lion’s share at VNĐ1.07 trillion.
On the southern bourse, their purchase were focused on steelmaker Hòa Phát Group’s shares, with five consecutive net selling sessions worth a total of VNĐ524 billion.
Statistics show that foreign investors have tended to pour more money in the last week of the year. In six of the last seven years (2010-2016), foreign traders have been net buyers from December 20-31, except in 2011. – VNS
Read original article here
Newer News
19/11 Market short-term outlook remains negative
15/11 New securities law sparks concerns from expert
08/11 New securities law is a better fit
23/10 Technology continues to attract investment
22/10 Corporate earnings could boost market morale
18/10 Real estate stocks might peak in first half of 2019
15/10 Bull trap doesn’t mean stable rally: analysts
13/10 Viet Nam shares recover after sharp global falls
09/10 VN-Index breaks 1,000 point level again
04/10 Reference exchange rate continues to rise
Older News
23/12 Shares mixed, market cap hits 74.6% GDP
22/12 Bank stocks drag down VN-Index
19/12 Local markets get Sabeco auction lift
18/12 VN-Index rises above 935 points
15/12 VN Index up slightly, market volatility continues
15/12 Market volatile despite recovery
14/12 Shares fall on market volatility fears
13/12 VN stocks trade negatively amid investor caution
13/12 Markets buoyed by Sabeco news
12/12 VN stocks extend losses, Sabeco advances
Newsletter Signup
Top Stories
VN Index to rise amid volatility, weak liquidity
VN stocks continue rallying
VN manufacturing PMI hits 22-month high in March
CPI goes up 4.96 percent year-on-year in first quarter
Slight rise in February CPI
Market Update
Last updated at 3:11:17 PM
VN-INDEX 922.56 +3.54/+0.39%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.