Monday, July 23, 2018 3:23:00 AM - Markets open
VN-INDEX 933.39 -10.58/-1.12%
HNX-INDEX 107.62 +2.03/+1.93%
UPCOM-INDEX 50.55 -0.03/-0.07%
VN stocks rebound on bottom-fishing
Thanhnien.vn - 7/5/2018 10:13:23 AM
 (0 ratings. You must sign in to rate.)
Vietnamese shares bounced back on Wednesday after two days of sharp falls sent stocks to attractive prices, thus triggering investors to bottom-fish.
 
The benchmark VN-Index on the HCM Stock Exchange gained 0.99 per cent to close at 914.99 points, reversing from its loss of 5.7 per cent in the previous two sessions.
 
The minor HNX Index on the Hà Nội Stock Exchange rose 1.21 per cent to end at 99.99 points after having decreased by a total of 6.9 per cent since Monday.
 
More than 160 million shares were traded on the two local exchanges, worth VNĐ3.9 trillion (US$170 million).
 
The trading figures were down 27.6 per cent in volume and 23.5 per cent in value compared to Tuesday’s numbers.
 
The market trading condition was positive with 242 gaining stocks against 192 declining, while 307 other stocks were unchanged.
 
Securities, retail and real estate stocks recorded the highest growth rates on Wednesday to bolster the market’s rise, data on vietstock.vn showed.
 
The capital inflow resulted in 9 of the 20 sectors seeing recovery, according to vietstock.vn, including large-cap stocks in the VN30 basket.
 
The large-cap VN30 Index was up 1 per cent to 900.89 points, with 19 gainers and nine losers.
 
Real estate giant Vingroup, the largest stock by market capitalisation, shot up by 5.3 per cent to trade at VNĐ105,000 per share. Nearly 2 million shares were matched.
 
VIC’s affiliate Vinhomes (VHM) hit the daily limit rise of 7 per cent, touching the ceiling price of VNĐ110,800 per share with the trading volume surging to 1.4 million shares.
 
The growth of the two pillar stocks has strongly supported the index.
 
In addition, many large caps such as Masan Group (MSN), FPT Corporation (FPT), Vietinbank (CTG), Asia Commercial Bank (ACB) and VPBank (VPB) also increased across the board, driving up the market.
 
According to Bảo Việt Securities Company (BVSC), the VN-Index tumbled in the beginning before active bottom-fishing demand helped the two indices recover and rally in the last minutes.
 
However, the recovery of the market had also encountered a huge obstacle from the fall of many other large-caps such as dairy firm Vinamilk (VNM), budget carrier Vietjet (VJC), Techcombank (TCB), PetroVietnam Gas JSC (GAS) and insurer Bảo Việt Holdings.
 
“The rebound today has partly calmed investors and the market is likely to continue rallying before retesting the bottom established earlier. Q2 income statement season will trigger a wide divergence among stocks,” BVSC said in its daily report.
 
The UPCOM Index on the Unlisted Public Company Market (UPCoM) was up 0.06 per cent to finish at 50.01 points. It had fallen 3.8 per cent on Tuesday. — VNS
 
Read original article here
Newer News
21/07 VN shares slump on domestic fund restructure
20/07 Shares volatile on large-cap stocks
19/07 VN-Index rises over 21 points
18/07 Initial margin ratio raised to reduce derivatives risks
17/07 Banking stocks push shares up
16/07 Hopes dim for VN shares short-term prospects
13/07 VN stocks recover as tensions ease
12/07 Stocks dive on latest trade news
11/07 VN stocks fall on late selling again
10/07 Covered warrants: the answer to investors prayers?
Older News
04/07 Selling pressure drives market down
03/07 Indices fall on week’s first trading day
29/06 VN stocks decline for third day
28/06 Local stocks fall at last minute
26/06 VN-Index opens week up, liquidity remains weak
25/06 Việt Nam remaining a frontier market: MSCI
23/06 Energy, bank shares boost bourses
22/06 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
 
Newsletter Signup
Top Stories
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
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
Market Update
Last updated at 3:10:36 PM
VN-INDEX 933.39 -10.58/-1.12%
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...
Portfolio
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.