Shares on the Ho Chi Minh City Stock Exchange rallied on January 23, as the market value remained positive and blue chips rebounded, proving themselves to be the backbone of the market.
The rally began after Fitch Ratings revised Vietnam's outlook to positive, reaffirming the country's long-term foreign and local currency issuer default rating at "B+". Also, the outlooks on the long-term issuer default ratings (IDRs) were revised to "positive".
Additionally, the VN-Index increased 0.3 percent to 553.55 points on a turnover of 1.2 trillion VND (56.6 million USD). Although the value of trades decreased over the session on January 22, it remained relatively high compared to historical trading.
Further, the VN30 Index, representing the performance of the 30 leading shares by capitalisation and liquidity, edged up 0.09 percent to reach 626.62 points.
Most of the blue chips added value. Commercial baker Kinh Do (KDC) hit the daily increase limit of 7 percent, closing at 57,500 VND (2.7 USD) per share. Becamex Infrastructure Development (IJC) followed, with a 5.4 percent rise.
Other blue chips enjoying high growth included HCM City Infrastructure Investment (CII), PetroVietnam Drilling Services (PVD) and Vinh Son –Song Hinh Hydro-power (VSH).
Meanwhile, others stumbled seriously, as Steelmaker Hoa Phat (HPG), insurer Bao Viet Holdings (BVH) and property giant Vingroup (VIC) lost between 2 to 6.5 percent.
Northern-listed stocks also increased, though the transaction value declined. On the Hanoi Stock Exchange, the HNX-Index reached 73.44 points, up 0.04 percent from the session on January 22.
Only 31.4 million shares, worth more than 271.7 billion VND (12.8 million USD), changed hands.
The HNX30 Index, tracking the bourse's top shares, however, fell 0.26 percent to 143.91 points. While the momentum of the HCM City market was from blue chips, penny stocks in Hanoi helped overall trading retain its increase. Also, nearly 30 stocks hit their ceiling prices, most of which having prices below 5,000 VND.
After proving themselves to be sellers on January 22, foreign investors returned as net buyers by a margin of over 123 billion VND (5.8 million USD).-VNA
The rally began after Fitch Ratings revised Vietnam's outlook to positive, reaffirming the country's long-term foreign and local currency issuer default rating at "B+". Also, the outlooks on the long-term issuer default ratings (IDRs) were revised to "positive".
Additionally, the VN-Index increased 0.3 percent to 553.55 points on a turnover of 1.2 trillion VND (56.6 million USD). Although the value of trades decreased over the session on January 22, it remained relatively high compared to historical trading.
Further, the VN30 Index, representing the performance of the 30 leading shares by capitalisation and liquidity, edged up 0.09 percent to reach 626.62 points.
Most of the blue chips added value. Commercial baker Kinh Do (KDC) hit the daily increase limit of 7 percent, closing at 57,500 VND (2.7 USD) per share. Becamex Infrastructure Development (IJC) followed, with a 5.4 percent rise.
Other blue chips enjoying high growth included HCM City Infrastructure Investment (CII), PetroVietnam Drilling Services (PVD) and Vinh Son –Song Hinh Hydro-power (VSH).
Meanwhile, others stumbled seriously, as Steelmaker Hoa Phat (HPG), insurer Bao Viet Holdings (BVH) and property giant Vingroup (VIC) lost between 2 to 6.5 percent.
Northern-listed stocks also increased, though the transaction value declined. On the Hanoi Stock Exchange, the HNX-Index reached 73.44 points, up 0.04 percent from the session on January 22.
Only 31.4 million shares, worth more than 271.7 billion VND (12.8 million USD), changed hands.
The HNX30 Index, tracking the bourse's top shares, however, fell 0.26 percent to 143.91 points. While the momentum of the HCM City market was from blue chips, penny stocks in Hanoi helped overall trading retain its increase. Also, nearly 30 stocks hit their ceiling prices, most of which having prices below 5,000 VND.
After proving themselves to be sellers on January 22, foreign investors returned as net buyers by a margin of over 123 billion VND (5.8 million USD).-VNA
