The market was boosted by foreign investors acting as net buyers, withvalue increased throughout the week, which helped the VN-Index torebound.
The VN-Index on the Ho Chi Minh City Stock Exchangeclosed last week at 543.59 points, 4.75 percent higher, while theHNX-Index on the Hanoi Exchange rose by 2.87 percent to reach 72.79points.
Excluding the extraordinary net selling of 214.5billion VND (10.2 million USD) of Hanoi-listed Thieu Nien Tien PhongPlastics Company (NTP), foreign buyers were net buyers of shares valuedat 872.3 billion VND (41.5 million USD).
On HCM CityExchange, foreign investors bought shares with a net value of 738.3billion VND (35.15 million USD), mainly of Masan Group (MSN),Vietcombank (VCB), PetroVietnam Fertilisers and Chemicals Corporation(DPM) and Hoa Phat Group (HPG). Real estate giant Hoang Anh Gia Lai(HAG), however, witnessed strong net selling of 46.4 billion VND (22million USD).
Also, strong buying from foreign investors helped boost market liquidity.
On the southern bourse, the trading volume averaged 102 millionshares with an average trading value of 1.73 trillion VND (82.38 millionUSD). At the beginning of the week's trading, profit-taking occurred,causing many shares to lose. However, foreign buyers of PV Gas (GAS),Sai Gon Securities (SSI) and PetroVietnam Drilling (PVD) helped theVN-Idex to avoid losses.
Buying by foreign investors greweach trading session until the final trading day, with a focus on bluechips. On January 16-17, the VN-Index strongly increased with rates of1.3 percent and 1.88 percent, respectively. Meanwhile, trading valuejumped on January 17 to reach 2.32 trillion VND (1.1 billion USD) withmany blue chips finishing at their ceiling prices, helping the VN-Indexto reach the highest level since 2011.
Hoa Phat Group (HPG)saw the largest gain on the HCM City Exchange last week, increasing 17.2percent thanks to the net buying of foreign investors with expectationsfor improved business results in the fourth quarter last year and forall of 2013.
Although the benchmark index strongly rebounded,the cash flow only targeted blue chips. Many speculative stocksencountered selling pressures, such as those of the real estate andconstruction sectors.
On the Hanoi Stock Exchange, theHNX-Index maintained its upward trend to January 16, though the trendwas reversed on January 17 as the cash flow shifted to the southernbourse and speculative stocks lost their attraction.
With anaverage of 303.1 million shares changing hands, the average tradingvalue was 598.6 billion VND (28.5 million USD). The northern bourse'sliquidity remained at high levels.
According to FPTSecurities, from the beginning of 2014 to date, foreign investors werenet buyers on HCM City Exchange, with a net value of 803 billion VND(38.2 million USD). This was seen as a positive reaction to informationabout the increase in foreign stakes.
FPT Securities forecastthat the VN-Index would continue to increase this week, as the cashflow would target blue chips, rather than speculative stocks.
Further, the Hanoi Stock Exchange lost its investors' attraction to thesouthern bourse and the HNX-Index barely maintained its upward trend.
At the beginning of last week, Deputy Prime Minister NguyenVan Ninh asked the State Capital Investment Corporation (SCIC) to hastendisinvestments in sectors that did not require State holdings toenhance efficiencies, sending a positive signal to the market.
In 2014, many State-owned enterprises also planned IPOs, such asViglacera, Vietnam Airlines and Vinatex, which helped boost supply ofthe equity market and attract more foreign capital.-VNA
The VN-Index on the Ho Chi Minh City Stock Exchangeclosed last week at 543.59 points, 4.75 percent higher, while theHNX-Index on the Hanoi Exchange rose by 2.87 percent to reach 72.79points.
Excluding the extraordinary net selling of 214.5billion VND (10.2 million USD) of Hanoi-listed Thieu Nien Tien PhongPlastics Company (NTP), foreign buyers were net buyers of shares valuedat 872.3 billion VND (41.5 million USD).
On HCM CityExchange, foreign investors bought shares with a net value of 738.3billion VND (35.15 million USD), mainly of Masan Group (MSN),Vietcombank (VCB), PetroVietnam Fertilisers and Chemicals Corporation(DPM) and Hoa Phat Group (HPG). Real estate giant Hoang Anh Gia Lai(HAG), however, witnessed strong net selling of 46.4 billion VND (22million USD).
Also, strong buying from foreign investors helped boost market liquidity.
On the southern bourse, the trading volume averaged 102 millionshares with an average trading value of 1.73 trillion VND (82.38 millionUSD). At the beginning of the week's trading, profit-taking occurred,causing many shares to lose. However, foreign buyers of PV Gas (GAS),Sai Gon Securities (SSI) and PetroVietnam Drilling (PVD) helped theVN-Idex to avoid losses.
Buying by foreign investors greweach trading session until the final trading day, with a focus on bluechips. On January 16-17, the VN-Index strongly increased with rates of1.3 percent and 1.88 percent, respectively. Meanwhile, trading valuejumped on January 17 to reach 2.32 trillion VND (1.1 billion USD) withmany blue chips finishing at their ceiling prices, helping the VN-Indexto reach the highest level since 2011.
Hoa Phat Group (HPG)saw the largest gain on the HCM City Exchange last week, increasing 17.2percent thanks to the net buying of foreign investors with expectationsfor improved business results in the fourth quarter last year and forall of 2013.
Although the benchmark index strongly rebounded,the cash flow only targeted blue chips. Many speculative stocksencountered selling pressures, such as those of the real estate andconstruction sectors.
On the Hanoi Stock Exchange, theHNX-Index maintained its upward trend to January 16, though the trendwas reversed on January 17 as the cash flow shifted to the southernbourse and speculative stocks lost their attraction.
With anaverage of 303.1 million shares changing hands, the average tradingvalue was 598.6 billion VND (28.5 million USD). The northern bourse'sliquidity remained at high levels.
According to FPTSecurities, from the beginning of 2014 to date, foreign investors werenet buyers on HCM City Exchange, with a net value of 803 billion VND(38.2 million USD). This was seen as a positive reaction to informationabout the increase in foreign stakes.
FPT Securities forecastthat the VN-Index would continue to increase this week, as the cashflow would target blue chips, rather than speculative stocks.
Further, the Hanoi Stock Exchange lost its investors' attraction to thesouthern bourse and the HNX-Index barely maintained its upward trend.
At the beginning of last week, Deputy Prime Minister NguyenVan Ninh asked the State Capital Investment Corporation (SCIC) to hastendisinvestments in sectors that did not require State holdings toenhance efficiencies, sending a positive signal to the market.
In 2014, many State-owned enterprises also planned IPOs, such asViglacera, Vietnam Airlines and Vinatex, which helped boost supply ofthe equity market and attract more foreign capital.-VNA
