Shares rebounded on August 14 after four consecutive downturns on the two national stock exchanges last week, boosted by recovery of large-cap stocks (Photo: VNA)
Hanoi (VNA) –
Shares rebounded on August 14 after four consecutive downturns on the two
national stock exchanges last week, boosted by recovery of large-cap stocks.
The VN-Index on the HCM Stock Exchange picked up 0.53 percent to close at
776.17 points. The benchmark index slipped 2.64 percent in the last four
sessions.
Only four of the top 30 largest shares by market value and liquidity on the
southern exchange tumbled, while 22 advanced.
Capital was channeled into various sectors, including banks, steel and
pharmaceutical firms, construction and real estate.
Banks were among the biggest gainers with five of listed lenders gaining value;
four of the largest banks by market value – Vietcombank (VCB), Vietinbank
(CTG), BIDV (BID) and Military Bank (MBB) – increased between 0.5 percent and
3.6 percent.
Advancers also included steelmakers Hoa Phat Group (HPG) and Hoa Sen Group
(HSG), DHG Pharmaceutical (DHG), Kinh Bac City Development (KBC), FLC Faros
Construction (ROS), HCM Infrastructure Investment (CII) and PV Gas (GAS).
On the negative side, the two biggest firms food and beverage industry firms,
Vinamilk (VNM) and Sabeco (SAB), slumped and restrained the market rise.
“However, the VN30-Index increasing further than the VN-Index indicated
investors’ tendency to increase their portfolio proportion of the large-cap
stocks in the VN30 basket,” analysts at BIDV Securities Co (BSC) wrote in their
daily report.
The VN30-Index, which tracks the performance of the top 30 shares by market
value and liquidity on the HCM Stock Exchange, edged up 0.86 percent at 751.39
points.
Market liquidity remained low, pointing to conservative sentiment in the
market, BSC’s analysts said.
[Stock market sees 23 firms with over 1 billion USD]
Over 185.5 million shares worth 3.45 trillion VND (152 million USD) were traded
in the southern market on August 14, down 17.3 percent in volume and 14.2 percent
in value compared to last week’s daily average volume and value.
BSC forecast that the market would move up and fluctuate around the 780 points
in the next session.
On the Hanoi Stock Exchange, the HNX-Index increased 0.64 percent to end at
101.5 points, recouping part of a 1.52 per cent loss in the last four sessions.
Nearly 54 million shares worth 491 billion VND were exchanged on the northern
market.
Foreign investors remained net buyers on the HCM City’s exchange for three
consecutive trades but their net buy value decreased 35.6 percent to just 60
billion VND. Their buys continued focusing on blue chips, such as Hoa Phat
Group, DHG Pharmaceutical and Vinamilk.
However, they extended their net selling activities on the Hanoi market for a
value of 5.4 billion VND, up 57.6 percent over the previous session.-VNA