Shares on the Hochiminh Stock Exchange rebounded on October 8 after previous day’s losses and received a boost from major blue chips such as Vinamilk (VNM) and PetroVietnam Gas (GAS).
Vinamilk, listed in the ASEAN's Top 100 enterprises, increased by 3.8 percent while GAS advanced by 1.9 percent, joining other subsidiaries of oil giant PetroVietnam in posting gains as the conglomerate announced a 36.5 trillion VND (1.7-billion USD) profit in the first nine months.
However, this group of stocks was recently seen to be rising too quickly, and it was predicted that high profits gained from them in upcoming sessions would taper off.
About a million shares were traded on October 8 with transaction value hitting more than 3.1 trillion VND (146.2 million USD).
The benchmark VN-Index rose by 0.52 percent to 617.26 points. Among the 30 large-cap stocks which the VN30 Index tracked, only six added value while 19 tumbled. The index posted 658.98 points, retreating by 0.03 percent.
Le Duc Khanh, Maritime Bank Securities' head of investment strategy predicted that the VN-Index would break previous forecasts to reach 700 points.
"Liquidity remains high on both exchanges, showing new flows of domestic and foreign capital are increasing," Khanh said. He added that economic improvements and the introduction of new products such as the first domestic exchange-traded fund encouraged investors to hold shares.
"If the Trans-Pacific Partnership is reached, import-export companies, especially those in the footwear, textile and processing industries, will benefit the most," Khanh noted. He cited two textile companies: Thanh Cong (TCM) and TNG Investment and Trading (TNG).
On the Hanoi Stock Exchange, the HNX-Index ended at 91.21 points, a 0.04-percent increase. Trading value remained stable at 1.15 trillion VND (54.2 million USD) on a volume of 82.46 million shares. However, the Hanoi bourse's blue chips sent the HNX30 Index 0.52 percent lower to 185.79 points.-VNA
Vinamilk, listed in the ASEAN's Top 100 enterprises, increased by 3.8 percent while GAS advanced by 1.9 percent, joining other subsidiaries of oil giant PetroVietnam in posting gains as the conglomerate announced a 36.5 trillion VND (1.7-billion USD) profit in the first nine months.
However, this group of stocks was recently seen to be rising too quickly, and it was predicted that high profits gained from them in upcoming sessions would taper off.
About a million shares were traded on October 8 with transaction value hitting more than 3.1 trillion VND (146.2 million USD).
The benchmark VN-Index rose by 0.52 percent to 617.26 points. Among the 30 large-cap stocks which the VN30 Index tracked, only six added value while 19 tumbled. The index posted 658.98 points, retreating by 0.03 percent.
Le Duc Khanh, Maritime Bank Securities' head of investment strategy predicted that the VN-Index would break previous forecasts to reach 700 points.
"Liquidity remains high on both exchanges, showing new flows of domestic and foreign capital are increasing," Khanh said. He added that economic improvements and the introduction of new products such as the first domestic exchange-traded fund encouraged investors to hold shares.
"If the Trans-Pacific Partnership is reached, import-export companies, especially those in the footwear, textile and processing industries, will benefit the most," Khanh noted. He cited two textile companies: Thanh Cong (TCM) and TNG Investment and Trading (TNG).
On the Hanoi Stock Exchange, the HNX-Index ended at 91.21 points, a 0.04-percent increase. Trading value remained stable at 1.15 trillion VND (54.2 million USD) on a volume of 82.46 million shares. However, the Hanoi bourse's blue chips sent the HNX30 Index 0.52 percent lower to 185.79 points.-VNA
