Friday, June 22, 2018 11:59:25 AM - Markets open
VN-INDEX 976.15 +6.75/+0.70%
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Shares up on investor confidence
Source: VNS - 2/28/2017 9:23:29 AM
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Shares rose yesterday on the two exchanges despite expert forecasts of a slight correction in early sessions this week as investors remained positive over market outlook.

The benchmark VN-Index on the HCM Stock Exchange edged up 0.42 per cent to close at 717.44 points. The southern index decreased 0.4 per cent in the last two sessions.

On the Hà Nội Stock Exchange, the HNX-Index was up 0.63 per cent to end yesterday’s trade at 86.86 points, following last week’s gain of 0.5 per cent.

The overall market condition was positive with 258 stocks rising, 216 declining and 228 remaining flat on the two exchanges.

A total of 243.5 million shares, worth a combined VNĐ3.8 trillion (US$167 million), were traded on the two markets, up over 10 per cent in volume and slightly lower in value compared to last week’s average figures.

“Selling pressure on the market reduced significantly from the previous two sessions and market sentiment remained positive,” Trần Đức Anh, a stock analyst at Bảo Việt Securities Co, wrote in a market report yesterday.

Anh said investors were willing to buy when the indices signaled a retreat.

Their buys focused on large-cap stocks such as VinGroup (VIC), PV Gas (GAS), Vietinbank (CTG), Vietcombank (VCB), BIDV (BID) and FPT Corp (FPT).

Eighteen of the top 30 shares by market value and liquidity on the main bourse in HCM City advanced while eleven slumped.

Apart from blue chips, investors continued to bet on property stocks on high hopes for the real estate sector this year.

Vạn Phát Hưng Corp (VPH) hit the daily limit rise of 7 per cent for three consecutive sessions and lifted its winning run to six days in a row. Others including Novaland Investment (NVL), Kinh Bắc City Development (KBC), Tân Tạo Investment Industry (ITA), FLC Group (FLC) and Hoàng Quân Consulting-Trading-Service Real Estate (HQC) increased between 1 and 4 per cent.

Property inventories decreased to nearly VNĐ30 trillion ($1.2 billion) as of February 20, down 4.7 per cent from December last year and a decrease of nearly 77 per cent from their peak in the first quarter of 2013.

According to Bảo Việt Securities Co, the domestic real estate market will see divergence and fierce competition in every segment. While high-end products have large supply and high risks, low-end medium-cost products have relatively high demand but limited supply.

Newer News
09:49 Shares close in red on selling pressure
20/06 VN stocks drop amid weak investor sentiment
19/06 VN-Index drops by 2.87 percent on June 18
15/06 VN-Index suffers big loss, market ends in red
14/06 VN-Index rises nearly 10 points on June 13
13/06 VN-Index loses over 18 points on June 12
12/06 VN-Index gains slightly to 1,039 points on June 11
09/06 VN-Index maintains uptrend on week’s last trading day
08/06 Stocks progress, liquidity still weak
07/06 VN-Index rises for fifth consecutive day
Older News
27/02 Stock reports contest launched
24/02 VN stocks fall on correction pressure
23/02 VN-Index rises but investors worried
22/02 Shares advance for second day
22/02 FPT Securities to remove foreign-ownership limitations
20/02 VN Index to stay in 700-710 point range
16/02 With Vietjet on deck, 2017 airline stocks could soar
16/02 VN Index up for fourth day running
15/02 Mid-cap stocks lift VN Index
14/02 2017 expected to be better for investment funds
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