Monday, August 21, 2017 - 4:27:02

Holiday euphoria continues in HCM City

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Stocks continued their pre-holiday upswing on the Ho Chi Minh Stock Exchange on May 4 as trading resumed after a long holiday weekend. The VN-Index gained an additional 1.35 percent to close the May 4's session at 486.58 points.

But the already anaemic volume of trades declined by 15.9 percent from April 29's levels to just 21.2 million shares, worth only 583.9 billion VND (27.8 million USD). Gainers edged out decliners by 115-109, with 65 codes closing unchanged, but nine out of the 10 leading shares by capitalisation picked up points.

Masan Group (MSN) saw the biggest gains of the day, rising 4.9 percent to 129,000 VND per share, followed by Hoa Phat Group (HPG), up 2.9 percent to 35,200 VND; property developer Hoang Anh Gia Lai (HAG), up 1.7 percent to 42,800 VND; insurer Bao Viet Holdings (BVH), up 1.6 percent to 93,000 VND; and software producer FPT, up 1 percent to 50,500 VND.

VietinBank (CTG) was the only loser among the top 10 shares, closing off 0.4 percent to 28,400 VND per share.

Saigon Securities Inc (SSI) saw the highest volume, with 1.2 million shares traded, of which foreign investors accounted for buys of 585,600 shares. SSI closed unchanged on the day, however, at 20,500 VND per share.

On the Hanoi Stock Exchange, without the assistance of major blue-chip shares, the HNX-Index continued last week's retreat, closing down 0.47 percent from April 29 to 83.19 points.

Trading slowed to a volume of just 19.7 million, for a value of only 260.7 billion VND (12.4 million USD). Losers also outnumbered gainers on the northern bourse by 162-53.

VNDirect Securities (VND) was the most-active share nationwide, with nearly 3 million traded, but the shares closed unchanged at 14,400 VND.

Foreign investors concluded the day on both market as net buyers, picking up a net of about a million shares on the HCM City market and nearly 600,000 on the Hanoi market.

Au Viet Securities Co analysts predicted a likely correction in the coming days with no more supporting information to lift shares. They cautioned investors to consider carefully prior to any investing decision. /.
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