Shares advanced on Friday, September 12, over an increase in the demand for oil and seafood stocks.
However,the VN-Index on the Ho Chi Minh Stock Exchange still closed 0.96percent lower than the previous Friday's session. Transaction valueaveraged 3.14 trillion VND (148.1 million USD) on a daily volume of175.5 million shares.
On the Hanoi Stock Exchange, the HNX-Indexjumped by 1.07 percent to 89.49 points. The average value and volume oftrades improved by around 25 percent to 1.25 trillion VND (58.9 millionUSD) and 93 million shares.
After rally on September 8, sharesplunged in the following session, but there was no negative information.Investors offloaded and a series of stocks hit bottom. However, buyingat low prices was also retained, pushing trading to a record high.
Apartfrom oil and seafood, investors eyed shares of transportation, realestate and construction companies, notably penny stocks.
"We areconfident in market prospects, and opportunities to buy will come fromthe stocks mentioned," BIDV Securities Company analysts said.
In the coming sessions this week, however, they warned that the market would see a correction as many shares had risen quickly.
OnSeptember 13, Market Vectors Index Solutions GmbH announced it addedtwo realty shares – FLC Group (FLC) and Becamex (IJC) – to the MarketVectors Vietnam Index while rejecting logistic blue chip Gemadept (GMD).
Notably,FLC was also chosen by the FTSE Vietnam Index and GMD had to leave. TheVietnam Securities Depository had said foreign ownership in Gemadeptwas reduced from 49 to 20.4 percent. Currently, the company is out ofshares for foreign investors.
Foreign investors were net sellerson both bourses, unloading a total margin of 112 billion VND (5.2million USD). Shares most heavily sold include commercial baker Kinh Do(KDC), Sai Gon Securities Inc (SSI) and property developers Kinh Bac(KBC) and Tan Tao (ITA).
Bloomberg reported that Fitch Ratingsmight consider raising Viet Nam's outlook to BB – from the current B+level due to "strengthening in external finances" and an improvedeconomy. With other improvements in economic indicators, securitiesanalysts are all saying good things about the future of the market.
However,investors who want to surf the market waves should not be active atthis point, said FPT Securities' Le Thi Bich Hang.-VNA
