An investor follows transactions at Sai Gon Securities Inc (SSI) in Hanoi. (Photo: VNA) Hanoi (VNA) - Vietnameseshares posted a strong comeback on February 12 after a two-day collapse, due tostrong investor interest in large-cap stocks that led the market upturn onexpectations of good earnings reports.
The benchmark VN-Index on the HCM StockExchange (HOSE) gained 3.77 percent to close at 1,041.79 points. It was down1.89 percent to close at 1,003.94 points on February 9.
The HNX Index on the Hanoi Stock Exchange(HNX) rose 3.85 percent to end at 100.02 points. It edged up 0.48 percent toend at 117.50 points on February 9.
The UPCOM Index on the Unlisted PublicCompany Market (UPCoM) jumped 1.70 percent to finish at 57.45 points. The indexjumped 3.30 percent to finish at 56.76 points.
More than 221.8 million shares were tradedon the three local exchanges, worth 5.87 trillion VND (258 million USD).
Financial-banking and oil stocks were thebest-performing among the 20 sectors on the stock market with the banking,brokerage and energy industry indices jumping 5.65 percent, 4.16 percent and6.23 percent, respectively, data on vietstock.vn showed.
Market trading conditions turned positiveon February 12, with 469 gaining stocks against 155 decliners, while 297 otherstocks remained unchanged.
Large-cap stocks also had a good tradingday as 26 of the 30 largest shares by market capitalisation advanced in theVN30 Index.
The VN30 Index was up 2.81 percent to1,034.76 points with more than 60 million shares exchanged, worth 3.03 trillionVND.
Blue chip stocks were strongly bought andpulled the VN-Index as well as the VN30 up especially in the ATC session.Banking (BID, CTG, and MBB reached the ceiling price) and petroleum (PVS, GAS,PVD reached the ceiling price) were the largest contributing sectors.
In addition, securities, steel, real estateand aviation sectors also showed positive aspects with green colour dominatingthese stocks.
Foreign investors were net sellers with 450.67billion VND on HOSE, focusing on HPG (228.03 billion VND), VRE (103.00 billionVND), and VNM (60.44 billion VND). In addition, they sold a net of 9.44billion VND on the HNX.
According to BIDV Securities Co (BSC),after the recent sharp correction, stock prices were quite reasonable forinvestors.
“Moreover, the rumour that adjusting themargin rate will be postponed helped demand become stronger,” BSC said in itsdaily report.
“It is likely that in tomorrow’s session,cash flow will continue to shift into the market and financial sectors such asbanking and securities are quite attractive,” it added.
Meanwhile, Bao Viet Securities Company(BVSC) said in its report that after the rally on February 12, the market maybecome balanced in the last session before the Tet holiday.
“The divergence and low liquidity may be seen onthe market on February 13,” it said. - VNA
VNA
