Shares reversed the previous day’s losses to gain value towards the end of February 20’s session.
While selling pressure remained high in the morning as the price level
was pushed up and enterprises have recently reported declining profits,
especially banks and real estate firms, the market was boosted by an
infusion of cash into speculative stocks.
On the Hanoi Stock
Exchange, real estate trader Sacomreal (SCR) closed the day with a buy
surplus of more than 200,000 shares at the ceiling price. Similarly,
Song Da Infrastructure Construction (SDH), Hanoi Investment General
Corporation (SHN), coffee processor Thai Hoa (THV) and Hoa Binh Mineral
(KHB) also reached the daily increase limit.
Key stocks on the
exchange such as Kim Long Securities (KLS), PetroVietnam Construction
(PVX) and VNDirect Securities (VND) rebounded remarkably and received
large support from foreign investors.
Foreign capital has been
shifting to the northern exchange for several sessions. Continuing this
trend, the benchmark HNX-Index advanced by 1.13 percent to 67 points.
Market value and volume totalled 700.16 billion VND (33.3 million
USD) and 81.16 million shares respectively, declining more than 17
percent from the previous session.
The HNX30, representing the northern exchange’s top shares, put on 2.5 percent to reach 135.03 points.
The VN-Index on the HCM Stock Exchange added 0.83 percent to reach 494.83 points.
The value of trades slid 19 percent from the previous day, reaching
1.2 trillion VND (57.1 million USD) as trading volume fetched 78.5
million shares.
Among blue chips, a number of shares retreated,
including Military Bank (MBB), software developer FPT (FPT), Sacombank
(STB), Da Nang Rubber (DRC) and Phu My Fertiliser (DPM).
The
VN30 Index, which tracks the performance of the southern bourse’s 30
leading stocks, reached 572.38 points – a 0.38 percent rise that could
mainly be attributed to the gains of private equity company Masan Group
(MSN), insurer Bao Viet (BVH), property developer Hoang Anh Gia Lai
(HAG) and Vinamilk (VNM).
The Tet holiday is usually a
favourable time for industries such as food and beverages,
transportation, entertainment and accommodation. Therefore, shares of
these industries might get more market attention.
In addition,
as stock indices heat up, shares in the mining, real estate,
construction, securities and banking sectors are often leading the
rally.-VNA