Markets recover on improved volumes
On
the HCM Stock Exchange, the VN-Index rose 0.29 percent to end the
session at 502.68 points. The value of the day's trades jumped 41
percent to 815.3 billionVND (41.8 million USD) on a volume of over 30
million shares, 36.4 percent higher than the previoux day level.
Advancers
outnumbered decliners by 161-61, with most blue chips posting gains due
to heavy buys by foreign investors. Foreign investors accounted for
over 60 percent of the volume in six of the 10 codes that saw the
heaviest gains on Jan. 27.
Three of those – software giant FPT,
PetroVietnam Finance (PVF), and Kinh Bac Urban Development (KBC) – all
rose to their ceiling prices, while the other three – real estate
developer Hoang Anh Gia Lai (HAG), steelmaker Hoa Phat Group (HPG) and
Phu My Fertilisers (DPM) – all posted gains of over 3 percent.
Of
the 10 leading shares by capitalisation, only conglomerate Masan Group
(MSN), Vietinbank (CTG) and insurer Bao Viet Holdings (BVH) declined,
with the latter dropping to its floor price for the fourth consecutive
day. All were foreign investor darlings last week.
Saigon
Securities Inc (SSI) closed up 3.1 percent and was the most-active share
with 1.3 million changing hands, the only stock with more than 1
million traded. On the Hanoi Stock Exchange, the HNX-Index dropped by
0.81 percent to close at 106.62 points.
The volume of trades
reached 19.1 million shares worth 343.6 billion VND (17.6 million USD),
an increase of 21 percent in volume and 18 percent in value over the
previous session.
Gainers outnumbered decliners by 207-82.
Kim
Long Securities (KLS) was the most-active share nationwide with a
volume of 2 million shares. KLS closed up 2 percent to 15,000 VND (0.77
USD) per share.
Despite modest gains on both bourses on Jan. 27,
Le Van Thanh Long, head of SME Securities Co's business development
department, said the current market was still in an accumulation period,
with many investors waiting on new data, including foreign exchange
rate changes and February inflation figures.
"If February
inflation decreases slightly from January's one-month level of 1.74
percent, it will be a good sign for the stock market," Long said.
"Meanwhile, another factor that could create waves for the market is the
announcement of listed companies' first-quarter business results and
information about their upcoming shareholders meetings."
Foreign
investors were net buyers on both exchanges on Jan. 27, responsible for a
net buy of 154 billion VND (7.9 million USD) worth of shares./.