Energy shares boost bourses despite low liquidity

Vietnamese shares added value nationwide on December 2 but with lower liquidity, as oil and gas shares took the spotlight in spite of previous steep declines and global market turmoil.
Vietnamese shares added value nationwide on December 2 but with lower liquidity, as oil and gas shares took the spotlight in spite of previous steep declines and global market turmoil.

At the Ho Chi Minh City Stock Exchange, the VN-Index increased by 0.25 percent and closed at 569.43 points. Trading value decreased by 21.7 percent over December 1’s level to 1.8 trillion VND (84.5 million USD), as trading volume reached 101.6 million shares.

The VN30 Index, which tracks the performance of the top 30 shares in liquidity and value, saw a 0.14-percent fall to 613.57 points.

Among the blue chips, eight managed to post gains while 11 tumbled, with rubber companies Casumina and Da Nang Rubber (DRC), private equity group Masan and Sacombank (STB) slumping the most.

DRC, STB and Vinh Son-Song Hinh Hydropower (VSH) are expected to be removed from the FTSE Vietnam UCITS ETF's portfolio while Saigon Securities Inc (SSI) will possibly be added. VSH closed unchanged while SSI jumped by one percent.

At the Hanoi Stock Exchange, the HNX-Index likewise rallied by 0.47 percent to 87.85 points after losing ground on December 1.

Both trading value and volume decreased over the previous session to stand at 735.7 billion VND (34.5 million USD) and nearly 52.8 million shares.

The HNX30 Index, which tracks the northern bourse's 30 largest stocks by value and liquidity, added 0.57 percent to reach 175.46 points.

Foreign investors' selling activities were relatively intensive in recent trading days. On December 2, they sold a net of 96.5 billion VND (4.5 million USD) in HCM City .

Notably, the net selling value on property developer Hoang Anh Gia Lai (HAG) reached more than 100 billion VND (4.7 million USD). HAG ended the session lower by 0.8 percent.

Meanwhile, foreign investors concluded as net buyers in Hanoi by a modest margin of 12.8 billion VND (600,900 USD).-VNA

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