Index treads water on late buys
A flurry of buys late in the session on the HCM Stock Exchange June 23
helped the VN-Index regain lost ground before it ended the day at
512.63.
A flurry of buys late in the session on the HCM Stock Exchange June 23
helped the VN-Index regain lost ground before it ended the day at
512.63.
The Index dropped to as low as 510 points early in the day, encouraging investors to buy in at the final 15 minutes, said the deputy head of analysis for Kim Eng Vietnam Securities Co, Phan Dung Khanh.
Expectations of better moves on global markets after recent corrections also fueled the buy-in, Khanh said.
Trading value fell back from June 22's highs, however, to just 1.4 trillion VND (73.6 million USD) on a total volume of just under 49 million shares. PetroVietnam Transportation (PVT) led the session with 3.13 million shares changing hands.
Many major shares continued dropping after heavy profit-taking days earlier, including Vietcombank (VCB), which declined by another 0.5 percent, property trader Hoang Anh Gia Lai (HAG), which closed off 0.61 percent, and Sacombank (STB), which fell 0.94 percent.
Penny stocks maintained their uptrend, however, with Long Giang Investment and Urban Development (LGL) and Song Ba Co (SBA) each gaining 5 percent to reach their ceiling prices for the day.
On the Hanoi Stock Exchange, the HNX-Index closed up just 0.58 percent to 162.86 points on a volume of 37.8 million shares worth a combined1.18 trillion VND (62.1 million USD).
PetroVietnam Construction (PVX) regained the position as the most active stock, on a volume of 3.6 million shares.
Rising small caps also contributed to the modest rise on the northern bourse, with shares under the auspices of the Lilama Corporation rising, including Lilama 61 (L61), which ended the day up 4.64 percent, and Lilama 35 (L35), which closed up by 6.88 percent.
Vietcombank Securities Co analysts suggested China 's shifting currency regime was a factor that would help sustain the domestic stock markets. China's relaxation of controls on the yuan would benefit the US economy, adding support to the capital markets, they said, noting that if the global situation did not change significantly, local trading would improve and the current expectation of market rallies realised.
Foreign investors ended the day as net buyers on both stock exchanges, picking up a net of 1.4 million shares. Phu My Fertilisers (DPM) and Tan Tao Industrial Park (ITA) were heavily favoured by foreign investors in HCM City , while Kim Long Securities Co (KLS) and PetroVietnam Technical Services (PVS) attracted attention on the northern market./.
The Index dropped to as low as 510 points early in the day, encouraging investors to buy in at the final 15 minutes, said the deputy head of analysis for Kim Eng Vietnam Securities Co, Phan Dung Khanh.
Expectations of better moves on global markets after recent corrections also fueled the buy-in, Khanh said.
Trading value fell back from June 22's highs, however, to just 1.4 trillion VND (73.6 million USD) on a total volume of just under 49 million shares. PetroVietnam Transportation (PVT) led the session with 3.13 million shares changing hands.
Many major shares continued dropping after heavy profit-taking days earlier, including Vietcombank (VCB), which declined by another 0.5 percent, property trader Hoang Anh Gia Lai (HAG), which closed off 0.61 percent, and Sacombank (STB), which fell 0.94 percent.
Penny stocks maintained their uptrend, however, with Long Giang Investment and Urban Development (LGL) and Song Ba Co (SBA) each gaining 5 percent to reach their ceiling prices for the day.
On the Hanoi Stock Exchange, the HNX-Index closed up just 0.58 percent to 162.86 points on a volume of 37.8 million shares worth a combined1.18 trillion VND (62.1 million USD).
PetroVietnam Construction (PVX) regained the position as the most active stock, on a volume of 3.6 million shares.
Rising small caps also contributed to the modest rise on the northern bourse, with shares under the auspices of the Lilama Corporation rising, including Lilama 61 (L61), which ended the day up 4.64 percent, and Lilama 35 (L35), which closed up by 6.88 percent.
Vietcombank Securities Co analysts suggested China 's shifting currency regime was a factor that would help sustain the domestic stock markets. China's relaxation of controls on the yuan would benefit the US economy, adding support to the capital markets, they said, noting that if the global situation did not change significantly, local trading would improve and the current expectation of market rallies realised.
Foreign investors ended the day as net buyers on both stock exchanges, picking up a net of 1.4 million shares. Phu My Fertilisers (DPM) and Tan Tao Industrial Park (ITA) were heavily favoured by foreign investors in HCM City , while Kim Long Securities Co (KLS) and PetroVietnam Technical Services (PVS) attracted attention on the northern market./.
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