Pricey gold helps revive stocks
Benchmark indices were back in positive territory on July 20, following
the previous session during which the volume of trades dropped to the
lowest level in two years.
Benchmark indices were back in positive territory on July 20, following
the previous session during which the volume of trades dropped to the
lowest level in two years.
On the HCM Stock Exchange, the VN-Index closed at 416.77, a gain of 1.6 percent, while the value of trades spiked by 46 percent over the previous session to 400.6 billion VND (19.4 million USD). Volume was 21.4 million shares, an increase of 28 percent.
Advancers outnumbered decliners during yesterday's session by 146-70.
The's rebound could have been caused by speculation in low-priced shares, while a number of analysts believed that the sharp rise in gold prices in the past few days had made some investors think twice about investing in gold.
Among the 10 leading shares by capitalisation, eight posted gains, with Vietinbank (CTG), software giant FPT, property developer Hoang Anh Gia Lai (HAG) and PetroVietnam Finance (PVF) all hitting their ceiling prices.
Bac Giang Exploitable Minerals Co (BGM), which listed shares on the HCM City bourse a month ago, was the most-active share, with nearly 1.6 million traded – although it plunged to its floor price.
On the Hanoi Stock Exchange, the HNX-Index also rose by 1.3 percent to close at 71.69 points. Trading was mixed, with the value of trades reaching 250.7 billion VND (12.2 million USD), an increase of 30.3 percent over the previous day, on a volume of 22.3 million shares.
Kim Long Securities Co (KLS) was the most-active share, with 3.3 million shares changing hands, although trades in VN Direct Securities Co (VND) were also brisk, with 2.2 million shares traded.
Foreign investors were net sellers in HCM City, unloading a net of 34.5 billion VND(1.7 million USD) worth of shares, while ending up as net buyers on the northern market by a net of 959 million VND (46,500 USD)./.
On the HCM Stock Exchange, the VN-Index closed at 416.77, a gain of 1.6 percent, while the value of trades spiked by 46 percent over the previous session to 400.6 billion VND (19.4 million USD). Volume was 21.4 million shares, an increase of 28 percent.
Advancers outnumbered decliners during yesterday's session by 146-70.
The's rebound could have been caused by speculation in low-priced shares, while a number of analysts believed that the sharp rise in gold prices in the past few days had made some investors think twice about investing in gold.
Among the 10 leading shares by capitalisation, eight posted gains, with Vietinbank (CTG), software giant FPT, property developer Hoang Anh Gia Lai (HAG) and PetroVietnam Finance (PVF) all hitting their ceiling prices.
Bac Giang Exploitable Minerals Co (BGM), which listed shares on the HCM City bourse a month ago, was the most-active share, with nearly 1.6 million traded – although it plunged to its floor price.
On the Hanoi Stock Exchange, the HNX-Index also rose by 1.3 percent to close at 71.69 points. Trading was mixed, with the value of trades reaching 250.7 billion VND (12.2 million USD), an increase of 30.3 percent over the previous day, on a volume of 22.3 million shares.
Kim Long Securities Co (KLS) was the most-active share, with 3.3 million shares changing hands, although trades in VN Direct Securities Co (VND) were also brisk, with 2.2 million shares traded.
Foreign investors were net sellers in HCM City, unloading a net of 34.5 billion VND(1.7 million USD) worth of shares, while ending up as net buyers on the northern market by a net of 959 million VND (46,500 USD)./.
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