Monday, August 21, 2017 - 17:23:57

Stocks continue to rise on positive news

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This week's stock trading began with gains on both national exchanges on June 18, extending the winning streak to a second straight day, following positive information from National Assembly meetings.

On the HCM Stock Exchange, the benchmark VN-Index advanced another 0.58 percent to close the day at 435.59 points, but trade value decreased 32 percent from the previous session’s level, totalling only 900.4 billion VND (42.9 million USD).

Blue chips still performed well as amongst the 30 largest shares by market value and liquidity, 17 climbed and only eight sank. Both PetroVietnam Finance (PVF) and Refrigeration Electrical Engineering Corp (REE) hit the one-day rise of 5 percent while fourth largest listed lender Sacombank (STB) rose over 4 percent.

The VN30 Index, which measures the performance of the top 30 shares, also increased 0.57 percent to stand at 510.81 points.

Tan Tao Investment Industry (ITA) remained the most active code on a total trade of 3.5 million shares, closing the day up 1.33 percent at 7,600 VND a share.

On the Hanoi Stock Exchange, the HNX-Index managed to close in the green during the afternoon at 74.90 points despite rising to nearly 76 in the morning.

Market volume was still modest, reaching 47.8 million shares, worth over 493 billion VND (23.5 million USD). PetroVietnam Construction (PVX), with 5 million shares changing hands, was the most active code, closing unchanged at 10,600 VND (0.5 USD) a pop.

While stock indices climbed two sessions in a row, many analysts felt confused about investors' "indifferent reaction" to recent economic information revealed by declining market volumes and values.

"With economic information quite positive, it seems incapable of boosting investor sentiment," said Hanoi-based independent analyst Pham Viet Hung, noting domestic companies are still bemoaning hardships.

Foreign investors were net sellers in HCM City , responsible for 5 billion VND (238,000 USD), but were net buyers in Hanoi , having spent over 1 billion VND (52,000 USD).-VNA
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