Friday, August 18, 2017 - 14:02:37

Shares rise on blue chips' rally

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On the HCM Stock Exchange on May 13, the VN-Index added nearly 0.6 percent to reach 488.93 points.

The VN30, tracking the southern city's 30 leading shares by capitalisation and liquidity, also rose 0.47 percent to 554.38 points.

Among blue chips, insurer Bao Viet Holdings (BVH) saw the highest growth of 5 percent. Steelmaker Hoa Sen Group (HSG) followed, gaining 4.5 percent – the company's fastest-ever increase. Meanwhile, Da Nang Rubber (DRC) advanced 4.2 percent and private equity firm Masan (MSN) added 1.8 percent.

Trading value on May 13 declined 38 percent over the May 10 session, reaching 1 trillion VND (47.6 million USD) on a volume of almost 45.5 million shares. Around half of the value was from transactions through negotiations. Foreign investors negotiated trades of 6.7 million shares of property developer Vingroup (VIC) worth 418.3 billion VND (19.9 million USD).

Overall, they were net sellers on both stock exchanges by a combined margin of 473.5 billion VND (22.5 million USD).

On the Hanoi Stock Exchange, the HNX-Index also rose 0.3 percent to 60.66 points.

Gainers slightly outnumbered losers by 102-96.

Market value was low, standing at just 220.9 billion VND (10.5 million USD) as 28.6 million shares changed hands.

Trading on the 30 largest shares tracked by the HNX30, accounting for 83 percent of the above value, lifted the index up 0.35 percent to 114.53 points.

"Currently, 490 points is a strong resistance for the VN-Index as it failed to exceed the level five times," said BIDV Securities Co analyst Hoang Anh Tuan. Similarly, it was 61 points for the HNX-Index, he added.

"However, liquidity has been signalling that it may decline, investors should mind the risks," Tuan noted.

But ACB Securities Co analyst Le Nguyet Anh claimed that there was little possibility indices would plunge fast.

"Given the current low interest rates, shares with high dividend payment rate and stable operation will be attractive to investors in the medium term," she said.-VNA
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