Investors seen at the trading centre of Bao Viet Securities Company (Photo: VNA) Hanoi (VNS/VNA) — Shares rose for the fourth consecutive day on February 28 onthe HCM City Stock Exchange, largely on the strength of a handful of bankingand energy blue-chips.
The benchmark VN-Index on the HCM Stock Exchange (HOSE) gained 0.17 percent tosettle at 1,121.54 points, falling from the intraday high of 1,129.89 points.It advanced by 0.46 percent to close the previous day at 1,119.61 points.
Meanwhile, the HNX Index on the Hanoi Stock Exchange (HNX) inched up 0.60points to end at 128.05 points. The index edged up 0.88 percent to end at127.29 points on February 27.
The UPCOM Index on the Unlisted Public Company Market (UPCoM)gained slightly 0.03 percent to finish at 60.09 points. It rose 0.55 percent tostand at 60.07 points on February 27.
More than 311.1 million shares were traded on the three local exchanges, worth 9.2trillion VND (406.2 million USD).
Market trading conditions were quite balanced on February 28, with 321declining stocks against 330 gainers, while 796 other stocks remainedunchanged.
Only 11 of the 30 largest shares by market capitalisation advanced in the VN30Index.
The VN30 Index was up 0.19 percent to 1.108,23 points, with morethan 232.6 million shares exchanged, worth 7.9 trillion VND.
Financial-banking and oil stocks were the best-performing among the 20 sectorsin the stock market, with the banking and energy industry indices advancing 2percent and 2.25 percent, respectively, according to vietstock.vn.
Banking stocks, including the big gainers of Vietnam Joint Stock CommercialBank for Industry and Trade (CTG), up 4.67 percent; Military Commercial JointStock Bank (MBB), rising 4.88; and JSC Bank for Investment and Development ofVietnam (BID), gaining 2.23, attracted cash flow and led the market.
In addition, a number of blue chip stocks and petroleum stocks also supportedthe uptrend of the index, including PetroVietnam Technical Services Corporation(PVS), advancing 1.64 percent and PetroVietnam Drilling & Well ServicesCorporation (PVD), up 4.55 percent.
Foreign investors yesterday were net sellers of 413.9 billion VND on HOSE,focusing on HPG (102.7 billion VND), VNM (68.1 billion VND) and BID (34.5billion VND). In addition, they sold a net of 54.78 billion VND on the HNX.
According to BIDV Securities JSC (BSC), the market was in a period ofaccumulation with the division in the industry. However, thanks to the returnof cash flow, the index has remained in the green and approached the short-termtarget of 1,130 points.
“Investors should observe stocks which attracted cash flow such as HPG, MBB,SSI,” BSC said in its daily report.
According to Bao Viet Securities Company (BVSC), VN-Index can still retest theold peak. However, the index will have to struggle to increase due to thedivergence.
“VN-Index is likely to move sideways around the old peak in the next few days,”it said. — VNA
VNA
