Stocks rebound as year comes to close
Although shares were traded in only three sessions last week, the market rebounded strongly as 2014 ended.
Although shares were traded in only three sessions last week, the market rebounded strongly as 2014 ended.
While the VN-Index rose by 1.37 percent to 545.63 points on the Hochiminh Stock Exchange, the HNX-Index on the Hanoi Stock Exchange rallied by 0.67 percent, reaching 82.98 points.
Also, blue chips were among the best performing groups, with the VN30 rising 3.3 percent.
The average trading values and volumes in the Hochiminh Stock Exchange were 1.67 trillion VND (78 million USD) and 104.6 million shares, respectively, while those in the Hanoi Stock Exchange were 613.35 billion VND (29.3 million USD) and 53.4 million shares, respectively.
Furthermore, global oil prices plummeting to a six-year low caused sluggish trading in shares of oil and gas companies such as GAS, PVD, PET, PVT and PXS. However, bottom fishing activities on December 30 triggered the flow of cash and boosted general demand, with money being poured primarily into OGC, HAR, FLC, ITA, KBC, VHG and ASM.
This trend continued on December 31, the last trading session of the year, and led to a series of shares reaching their ceiling prices, particularly KLF, HQC, VHG, ITQ, OGC, ASM and HAR. Altogether, 80 stocks hit the daily increase limit.
Of note, only 80 of the 661 listed codes declined.
Moreover, the market's recovery last week reflected the year-end psychology factor. Analysts of FPT Securities alleged that it was an unsubstantial increase and that the market needed to see more improvement in liquidity.
According to Tran Duc Anh from Bao Viet Securities, as the domestic market consistently saw a surge in January in the last four years, the scenario may continue this month, as well. After a short rally, the condition would depend on related information, he said.
Furthermore, foreign investors were net buyers last week by 302 billion VND. Their net buying value of the year amounted to more than 93.7 trillion VND. In total, the value of transactions carried out by foreign investors last year was some 150 trillion VND, according to vietstock.vn.
Holding a large number of influential stocks, trading activities by foreign investors have been creating significant impacts on the Vietnamese stock market.-VNA
While the VN-Index rose by 1.37 percent to 545.63 points on the Hochiminh Stock Exchange, the HNX-Index on the Hanoi Stock Exchange rallied by 0.67 percent, reaching 82.98 points.
Also, blue chips were among the best performing groups, with the VN30 rising 3.3 percent.
The average trading values and volumes in the Hochiminh Stock Exchange were 1.67 trillion VND (78 million USD) and 104.6 million shares, respectively, while those in the Hanoi Stock Exchange were 613.35 billion VND (29.3 million USD) and 53.4 million shares, respectively.
Furthermore, global oil prices plummeting to a six-year low caused sluggish trading in shares of oil and gas companies such as GAS, PVD, PET, PVT and PXS. However, bottom fishing activities on December 30 triggered the flow of cash and boosted general demand, with money being poured primarily into OGC, HAR, FLC, ITA, KBC, VHG and ASM.
This trend continued on December 31, the last trading session of the year, and led to a series of shares reaching their ceiling prices, particularly KLF, HQC, VHG, ITQ, OGC, ASM and HAR. Altogether, 80 stocks hit the daily increase limit.
Of note, only 80 of the 661 listed codes declined.
Moreover, the market's recovery last week reflected the year-end psychology factor. Analysts of FPT Securities alleged that it was an unsubstantial increase and that the market needed to see more improvement in liquidity.
According to Tran Duc Anh from Bao Viet Securities, as the domestic market consistently saw a surge in January in the last four years, the scenario may continue this month, as well. After a short rally, the condition would depend on related information, he said.
Furthermore, foreign investors were net buyers last week by 302 billion VND. Their net buying value of the year amounted to more than 93.7 trillion VND. In total, the value of transactions carried out by foreign investors last year was some 150 trillion VND, according to vietstock.vn.
Holding a large number of influential stocks, trading activities by foreign investors have been creating significant impacts on the Vietnamese stock market.-VNA
You should also see
World economy’s recovery drives Vietnam’s exports
With the recovery of the world market and increasing orders, Vietnam's import and export activities in the first quarter of 2024 prospered and achieved positive results.
See more
Business
Ample room for Quang Ninh to attract FDI
The northeastern province of Quang Ninh has ample room to attract foreign direct investment (FDI) and realise the goal of attracting 3 billion USD in FDI this year and 10 billion USD in the 2020-2025 period.
Business
Long An, Dong Nai introduce strengths in RoK
The southern province of Long An and Dong Nai introduced their investment climate as well as socio-economic development orientations at an investment promotion conference held in the Republic of Korea (RoK) on April 26.
Business
Vietnam makes initial efforts to approach creative industries: CIEM
Vietnam has made initial efforts to approach creative industries and services, particularly a policy framework related to creative economy development, according to a new report released by the Central Institute for Economic Management (CIEM).
Business
HCM City wants to become major partner, customer of NVIDIA: Official
Chairman of the People’s Committee of Ho Chi Minh City Phan Van Mai has told the Vice President of Worldwide AI Initiative at NVIDIA, Keith Strier that the city wants to become a major and good partner and customer of the firm in Vietnam.
Business
Revenue on top five e-commerce platforms jumps 79%
The e-commerce market of Vietnam was robust in the first quarter of this year with total revenue of the top five platforms, including Shopee, TikTok Shop, Lazada, Tiki and Sendo, reaching more than 71 trillion VND (2.79 billion USD), an increase of 79% over the same period last year, according to a recent report by Metric.
