National stocks extend rally ahead of lunar new year
Shares lengthened their winning streak on both stock exchanges on
January 24, before the final session of the lunar year on January 27.
Shares lengthened their winning streak on both stock exchanges on
January 24, before the final session of the lunar year on January 27.
Predictions for the final trading day focused on hesitations of investors. FPT Securities Co analysts wrote in a note: "The market will see a fight between the demand and supply of shares on January 27." However, the medium-term trend remained positive, they added.
"Indexes will hardly gain on January 27 due to profit-taking, but medium- and long-term investors can safely hold shares," said VietDragon Securities Co's Ho Thi Thanh Huyen.
According to Vietnam Investment Securities, rising and falling in the market will be seen. The rotation of cash flows will turn to mid-cap stocks and some low price real estate shares, rather than blue chips, which have been strongly increasing, such as steelmaker Hoa Phat (HPG), Refrigeration Electric Engineering (REE), PetroVietnam Low Pressure Gas Distribution (PGD) and PetroVietnam Southern Gas (PGS).
Meanwhile, on the Ho Chi Minh City Stock Exchange, the VN-Index gained 1.2 percent to reach 560.19 points.
Also, trading value increased 25 percent over the level on January 23 to reach 1.5 trillion VND (71.4 million USD) on a volume of 88 million shares.
Blue chips represented by the VN30 Index were mixed, with 12 losers and 12 advancers. While Sacombank (STB) was the largest loser, seeing a 3.4 percent slump, Saigon Securities Inc (SSI) became the top gainer with a 4.8 percent rise.
The VN30 added 0.2 percent to finish at 627.91 points.
The Bank for Investment and Development of Viet Nam (BIDV) on January 24 made its debut, rising 0.5 percent with more than 8.4 million shares exchanged.
On the Hanoi Stock Exchange, the HNX-Index closed at 73.66 percent, up 0.3 percent from the previous session.
The HNX30 Index, composed of the bourse's 30 largest shares, put on 0.13 percent to reach 144.09 points. Among a set of eight indexes, only one of the industrial sector lost 0.6 percent.
Trading improved some 24 percent, totalling 336.6 billion VND (16 million USD), with a volume of nearly 34.8 million shares.
Foreign investors continued to be net buyers by a combined margin of 143.55 billion VND (6.84 million USD).
The market reopens on February 6, after the lunar New Year holiday.-VNA
Predictions for the final trading day focused on hesitations of investors. FPT Securities Co analysts wrote in a note: "The market will see a fight between the demand and supply of shares on January 27." However, the medium-term trend remained positive, they added.
"Indexes will hardly gain on January 27 due to profit-taking, but medium- and long-term investors can safely hold shares," said VietDragon Securities Co's Ho Thi Thanh Huyen.
According to Vietnam Investment Securities, rising and falling in the market will be seen. The rotation of cash flows will turn to mid-cap stocks and some low price real estate shares, rather than blue chips, which have been strongly increasing, such as steelmaker Hoa Phat (HPG), Refrigeration Electric Engineering (REE), PetroVietnam Low Pressure Gas Distribution (PGD) and PetroVietnam Southern Gas (PGS).
Meanwhile, on the Ho Chi Minh City Stock Exchange, the VN-Index gained 1.2 percent to reach 560.19 points.
Also, trading value increased 25 percent over the level on January 23 to reach 1.5 trillion VND (71.4 million USD) on a volume of 88 million shares.
Blue chips represented by the VN30 Index were mixed, with 12 losers and 12 advancers. While Sacombank (STB) was the largest loser, seeing a 3.4 percent slump, Saigon Securities Inc (SSI) became the top gainer with a 4.8 percent rise.
The VN30 added 0.2 percent to finish at 627.91 points.
The Bank for Investment and Development of Viet Nam (BIDV) on January 24 made its debut, rising 0.5 percent with more than 8.4 million shares exchanged.
On the Hanoi Stock Exchange, the HNX-Index closed at 73.66 percent, up 0.3 percent from the previous session.
The HNX30 Index, composed of the bourse's 30 largest shares, put on 0.13 percent to reach 144.09 points. Among a set of eight indexes, only one of the industrial sector lost 0.6 percent.
Trading improved some 24 percent, totalling 336.6 billion VND (16 million USD), with a volume of nearly 34.8 million shares.
Foreign investors continued to be net buyers by a combined margin of 143.55 billion VND (6.84 million USD).
The market reopens on February 6, after the lunar New Year holiday.-VNA
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