VN-Index concludes winning week
Shares concluded a winning week on the HCM Stock Exchange with the benchmark VN-Index adding 0.2 percent to close at 935.57 points on November 24.
Brokers working on Tan Viet Securities’ trading board in Hanoi (Photo: VNA)Hanoi (VNA) - Shares concluded
a winning week on the HCM Stock Exchange with the benchmark VN-Index adding 0.2
percent to close at 935.57 points on November 24.
Large-cap stocks continue to provide energy for the market’s upward trend: 18 of the top 30 largest shares by market value and liquidity here advanced and only nine declined.
Leading gainers included food and beverage companies, such as brewer Sabeco (SAB) and Habeco (BHN), each rising over 3 percent; confectionery Kido Group (KDC) and sugar maker Thanh Thanh Cong Tay Ninh JSC (SBT), each up 1 percent; Vinamilk (VNM), up 0.1 percent and steelmaker Hoa Phat Group (HPG), up 2.4 percent.
Notably, however, cash flow began to gradually spread to small- and medium-cap stocks.
“Green color dominated the market with the number of increasing stocks doubling that of decreasing ones (187-96), especially in sectors such as real estate (except for VinGroup) and construction, while the picture was more divided in the banking and securities sectors,” BIDV Securities Co (BSC) wrote in a report yesterday.
Refrigeration Electrical Engineering Corp (REE) and Dat Xanh Real Estate Service & Construction Corp (DXG) both hit the daily limit rise of 7 percent, while Hoang Quan Consulting-Trading-Service Real Estate (HQC) rallied 3.5 percent and Hoa Binh Construction Group (HBC) rose 2.3 percent.
Despite the significant drop at the morning trade, VN-Index still increased slightly by the end of the session, which proved that the market maintained momentum, though it was not as strong as before, BSC’s report said.
Big losers included VinGroup (VIC), down 2.6 percent; Vincom Retail (VRE), down 2.7 percent and Vietcombank (VCB) and Vietinbank (CTG), each dropping around 1 percent.
According to Tran Duc Anh, a stock analyst at Bao Viet Securities Company, increasing profit-taking pressure in large-cap stocks triggered a high risk of a short-term correction for these stocks. However, as cash flows into mid-cap and penny stocks, a divergence may still be seen next week.
On the Hanoi Stock Exchange, the HNX-Index rose for a third day, adding 0.59 percent to end at 110.83 points.
A total of over 289 million shares worth a combined 7.3 trillion VND (320.2 million USD) were traded in the market, down 5.3 percent in trading volume but up 10.6 percent in terms of the value of transactions compared to the previous session.
Foreign investors were net sellers on both exchanges, responsible for a combined net value of 117 billion VND. -VNA
Large-cap stocks continue to provide energy for the market’s upward trend: 18 of the top 30 largest shares by market value and liquidity here advanced and only nine declined.
Leading gainers included food and beverage companies, such as brewer Sabeco (SAB) and Habeco (BHN), each rising over 3 percent; confectionery Kido Group (KDC) and sugar maker Thanh Thanh Cong Tay Ninh JSC (SBT), each up 1 percent; Vinamilk (VNM), up 0.1 percent and steelmaker Hoa Phat Group (HPG), up 2.4 percent.
Notably, however, cash flow began to gradually spread to small- and medium-cap stocks.
“Green color dominated the market with the number of increasing stocks doubling that of decreasing ones (187-96), especially in sectors such as real estate (except for VinGroup) and construction, while the picture was more divided in the banking and securities sectors,” BIDV Securities Co (BSC) wrote in a report yesterday.
Refrigeration Electrical Engineering Corp (REE) and Dat Xanh Real Estate Service & Construction Corp (DXG) both hit the daily limit rise of 7 percent, while Hoang Quan Consulting-Trading-Service Real Estate (HQC) rallied 3.5 percent and Hoa Binh Construction Group (HBC) rose 2.3 percent.
Despite the significant drop at the morning trade, VN-Index still increased slightly by the end of the session, which proved that the market maintained momentum, though it was not as strong as before, BSC’s report said.
Big losers included VinGroup (VIC), down 2.6 percent; Vincom Retail (VRE), down 2.7 percent and Vietcombank (VCB) and Vietinbank (CTG), each dropping around 1 percent.
According to Tran Duc Anh, a stock analyst at Bao Viet Securities Company, increasing profit-taking pressure in large-cap stocks triggered a high risk of a short-term correction for these stocks. However, as cash flows into mid-cap and penny stocks, a divergence may still be seen next week.
On the Hanoi Stock Exchange, the HNX-Index rose for a third day, adding 0.59 percent to end at 110.83 points.
A total of over 289 million shares worth a combined 7.3 trillion VND (320.2 million USD) were traded in the market, down 5.3 percent in trading volume but up 10.6 percent in terms of the value of transactions compared to the previous session.
Foreign investors were net sellers on both exchanges, responsible for a combined net value of 117 billion VND. -VNA
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