Investors and staff at Saigon Securities Inc (Photo: VNA) Hanoi (VNA) – Shares rebounded on December 20 after a brief fall on December 19, boosted by energy and bank stocks on investors’ expectation of positive Q4 earnings from these companies.
The VN-Index on the HCM Stock Exchange edged up 0.22 percent to close the session at 953.51 points. The southern market index decreased 0.7 percent on December 19.
On the Hanoi Stock Exchange, the HNX-Index rallied 0.52 percent to end at 113.95 points after a 0.3-percent drop on December 19.
Overall market condition was neutral with 231 stocks declining, 238 rising and 255 closing flat on the two exchanges.
Energy and bank stocks were the major supporter of the market’s rally on December 20.
The three biggest listed energy companies – PV Gas (GAS), Petrolimex (PLX) PetroVietnam Drilling and Well Serivces (PVD) – climbed 1.9 percent; 4.5 percent and 2.6 percent, respectively. Other smaller companies such as PetroVietnam Technical Services (PVS), PetroVietnam Drilling Mud (PVC) and PetroVietnam Coating (PVB) gained values of 3-8 percent.
Seven of 10 lenders on the two exchanges rallied with the Big Four (four biggest banks by market value and assets) – Vietcombank (VCB), Vietinbank (CTG), BIDV (BID) and VPBank (VPB) – increased between 1.7-2.9 percent each.
According to BIDV Securities Co (BSC), stocks with good fundamentals and high expectations on the last-quarter earnings results continued to draw investments.
“We believe that the market is gradually overcoming the strong correction and ready to conquer the new peak when the Q4 results will attract large amounts of cash flow,” analysts at BSC wrote in a December 20 report.
On the defensive side, brewer Sabeco (SAB) dropped by the maximum limit of 7 per cent on HCM City’s bourse for a second day under heavy profit-taking pressure after the successful divestment auction.
Other substantial losers included Vinamilk (VNM), down 1 percent; DHG Pharmaceutical (DHG), down 2.1 percent; Mobile World Group (MWG), down 0.7 percent; Coteccons Construction (CTD) and Bình Minh Plastics (BMP) down 2.6 percent.
Liquidity improved slightly with a total of 292.2 million shares worth a combined 6.5 trillion VND (285 million USD) being traded on the two markets, up 3.3 percent in trading volume and 1.6 percent in trading value compared to the previous session.
Foreign investors concluded as net buyers for a third straight day on HCM City’s exchanges, picking up 5.5 million shares worth a net value of 143 billion VND. They were also net buyers in Hanoi for a modest net value of 18.4 billion VND.-VNA
The VN-Index on the HCM Stock Exchange edged up 0.22 percent to close the session at 953.51 points. The southern market index decreased 0.7 percent on December 19.
On the Hanoi Stock Exchange, the HNX-Index rallied 0.52 percent to end at 113.95 points after a 0.3-percent drop on December 19.
Overall market condition was neutral with 231 stocks declining, 238 rising and 255 closing flat on the two exchanges.
Energy and bank stocks were the major supporter of the market’s rally on December 20.
The three biggest listed energy companies – PV Gas (GAS), Petrolimex (PLX) PetroVietnam Drilling and Well Serivces (PVD) – climbed 1.9 percent; 4.5 percent and 2.6 percent, respectively. Other smaller companies such as PetroVietnam Technical Services (PVS), PetroVietnam Drilling Mud (PVC) and PetroVietnam Coating (PVB) gained values of 3-8 percent.
Seven of 10 lenders on the two exchanges rallied with the Big Four (four biggest banks by market value and assets) – Vietcombank (VCB), Vietinbank (CTG), BIDV (BID) and VPBank (VPB) – increased between 1.7-2.9 percent each.
According to BIDV Securities Co (BSC), stocks with good fundamentals and high expectations on the last-quarter earnings results continued to draw investments.
“We believe that the market is gradually overcoming the strong correction and ready to conquer the new peak when the Q4 results will attract large amounts of cash flow,” analysts at BSC wrote in a December 20 report.
On the defensive side, brewer Sabeco (SAB) dropped by the maximum limit of 7 per cent on HCM City’s bourse for a second day under heavy profit-taking pressure after the successful divestment auction.
Other substantial losers included Vinamilk (VNM), down 1 percent; DHG Pharmaceutical (DHG), down 2.1 percent; Mobile World Group (MWG), down 0.7 percent; Coteccons Construction (CTD) and Bình Minh Plastics (BMP) down 2.6 percent.
Liquidity improved slightly with a total of 292.2 million shares worth a combined 6.5 trillion VND (285 million USD) being traded on the two markets, up 3.3 percent in trading volume and 1.6 percent in trading value compared to the previous session.
Foreign investors concluded as net buyers for a third straight day on HCM City’s exchanges, picking up 5.5 million shares worth a net value of 143 billion VND. They were also net buyers in Hanoi for a modest net value of 18.4 billion VND.-VNA
VNA
