Market continues slow recovery

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Báo Đầu Tư English - 27 month(s) ago 4 readings

Market continues slow recovery

The market rose on Wednesday, with healthy demand for shares.

Both the benchmarks VN-Index of Ho Chi Minh Stock Exchange (HoSE) and HNX-Index of Hanoi Stock Exchange (HNX) rose to positive territory throughout the session. The VN-Index was up 5.48 points or 1.24 per cent to end at 445.77 points.

HNX-Index gained 1.27 points or 1.7 per cent to end at 75.66 points.

Demand for shares increased in speculative stocks, particularly securities company shares. Asia Pacific Securities (APS), Au Viet Securities (AVS), Haiphong Securities (HPC), Orient Securities (ORS) and PetroVietnam Securities (PSI) saw big volumes being bid for after the session’s close.

Saigon-Hanoi Securities (SHS) and Wall Street Securities (WSS) were strongly bid for. Petro Vietnam Power Land (PVL) and Sacomreal (SCR) were among stocks being purchased the most.

On the HoSE, speculative stocks Licogi 16 (LCG), Binh Duong Trade and Development (TDC), PetroVietnam Finance (PVF), Nari Hamico Minerals (KSS) hit the ceiling with strong bidding power.

Low monthly consumer-price-index (CPI) data from Ho Chi Minh City and Hanoi encouraged investors. “Rising trend might be the main trend in upcoming sessions as CPI growth in March will possibly be low,” said Vietcombank Securities.

However, stock holders also locked in profits today.

Major stocks like Saigon Securities Inc. (SSI), Eximbank (EIB), Vietinbank (CTG), Vietcombank (VCB), Military Bank (MBB) and Tan Tao Investment Industry Corp. (ITA) were strongly sold. Those stocks significantly reduced their gain in the session’s ending today.

Vincom Corp. (VIC), Vinamilk (VNM) and Masan Group (MSN) even ended flat.

Exciting trades of buyers and the sellers helped liquidity strongly jump. HoSE’s total volume reached 98.4 million shares worth VND1.39 trillion ($67.1 million), while that of HNX hitting 104 million shares worth VND1.09 trillion ($52.6 million).

Overall, 200 stocks gained on HoSE with 81 hitting the ceiling, compared with 42 losing. Some 240 stocks advanced on the HNX and 55 declined.

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