Monday, August 21, 2017 - 17:31:10

Shares rally in HCM City, retreat in Hanoi

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The VN-Index rose 0.8 percent on Sept. 15 to close at 470.67 points, gaining back some ground lost in the previous day’s session.

Meanwhile, the value of trades on the HCM Stock Exchange remained essentially unchanged from Sept. 14, reaching about 1.3 trillion VND (62.8 million USD) on a volume of 70.6 million shares.

Among leading shares, insurer Bao Viet Holdings (BVH), solfware giant FPT and food processor Masan (MSN) all rose to their ceiling prices, while Saigon Securities Inc (SSI) was the most active share during the session, seeing 2.5 million exchanged before closing at 21,000 VND per share, a gain of 1.9 percent.

Meanwhile, on the Hanoi Stock Exchange, the HNX-Index retreated by 1.2 percent on Sept. 15 to 76.37 points, with decliners outpacing advancers by 249-56. The value of trades fell 34 percent to 727.5 billion VND (35.1 million USD), meanwhile volume also dropped by 32 percent to just 64.6 million shares.

Kim Long Securities Co (KLS) was the most active share nationwide, with around 6.4 million traded. KLS ended the session at 12,600 VND per share, a decline of 2.3 percent.

Foreign investors were net sellers in HCM City on Sept. 15 for a fourth consecutive session, posting a net of 166 billion VND (8 million USD), while they were net buyers in Hanoi by a margin of only 5.6 billion VND (270,500 USD).

While many investors were worrying about corporate financial reports in the third quarter, Nguyen Quang Minh, an analyst for the financial information website vietstock.vn. said that recent positive movements on inflation and monetary policy would both improve business performance and make more capital available for investment on the market.

An Phuc Securities Investment Fund Management Co. analyst Truong Nguyen The Bao said on Sept. 15 that the VN-Index was in a new growth period, and offered a prediction that it would reach 500-550 points by the end of the year.

“I think the Vietnamese market still poses some short-term risks, but opportunities for long-term investment have also materialized,” added Le Van Thanh Long from Viet Finance Co./.
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