Investors and staff at Saigon Securities Inc (Photo: VNA)Hanoi (VNA) – Shares rebounded on December 20 after a brief fallon December 19, boosted by energy and bank stocks on investors’ expectation ofpositive Q4 earnings from these companies.
The VN-Index on the HCM Stock Exchange edged up 0.22 percentto close the session at 953.51 points. The southern market index decreased 0.7percent on December 19.
On the Hanoi Stock Exchange, the HNX-Index rallied 0.52 percentto end at 113.95 points after a 0.3-percent drop on December 19.
Overall market condition was neutral with 231 stocksdeclining, 238 rising and 255 closing flat on the two exchanges.
Energy and bank stocks were the major supporter of themarket’s rally on December 20.
The three biggest listed energy companies – PV Gas (GAS),Petrolimex (PLX) PetroVietnam Drilling and Well Serivces (PVD) – climbed 1.9percent; 4.5 percent and 2.6 percent, respectively. Other smaller companiessuch as PetroVietnam Technical Services (PVS), PetroVietnam Drilling Mud (PVC)and PetroVietnam Coating (PVB) gained values of 3-8 percent.
Seven of 10 lenders on the two exchanges rallied with the BigFour (four biggest banks by market value and assets) – Vietcombank (VCB),Vietinbank (CTG), BIDV (BID) and VPBank (VPB) – increased between 1.7-2.9 percenteach.
According to BIDV Securities Co (BSC), stocks with goodfundamentals and high expectations on the last-quarter earnings resultscontinued to draw investments.
“We believe that the market is gradually overcoming thestrong correction and ready to conquer the new peak when the Q4 results willattract large amounts of cash flow,” analysts at BSC wrote in a December 20 report.
On the defensive side, brewer Sabeco (SAB) dropped by themaximum limit of 7 per cent on HCM City’s bourse for a second day under heavyprofit-taking pressure after the successful divestment auction.
Other substantial losers included Vinamilk (VNM), down 1 percent;DHG Pharmaceutical (DHG), down 2.1 percent; Mobile World Group (MWG), down 0.7 percent;Coteccons Construction (CTD) and Bình Minh Plastics (BMP) down 2.6 percent.
Liquidity improved slightly with a total of 292.2 millionshares worth a combined 6.5 trillion VND (285 million USD) being traded on thetwo markets, up 3.3 percent in trading volume and 1.6 percent in trading valuecompared to the previous session.
Foreign investors concluded as net buyers for a thirdstraight day on HCM City’s exchanges, picking up 5.5 million shares worth a netvalue of 143 billion VND. They were also net buyers in Hanoi for a modest netvalue of 18.4 billion VND.-VNA
The VN-Index on the HCM Stock Exchange edged up 0.22 percentto close the session at 953.51 points. The southern market index decreased 0.7percent on December 19.
On the Hanoi Stock Exchange, the HNX-Index rallied 0.52 percentto end at 113.95 points after a 0.3-percent drop on December 19.
Overall market condition was neutral with 231 stocksdeclining, 238 rising and 255 closing flat on the two exchanges.
Energy and bank stocks were the major supporter of themarket’s rally on December 20.
The three biggest listed energy companies – PV Gas (GAS),Petrolimex (PLX) PetroVietnam Drilling and Well Serivces (PVD) – climbed 1.9percent; 4.5 percent and 2.6 percent, respectively. Other smaller companiessuch as PetroVietnam Technical Services (PVS), PetroVietnam Drilling Mud (PVC)and PetroVietnam Coating (PVB) gained values of 3-8 percent.
Seven of 10 lenders on the two exchanges rallied with the BigFour (four biggest banks by market value and assets) – Vietcombank (VCB),Vietinbank (CTG), BIDV (BID) and VPBank (VPB) – increased between 1.7-2.9 percenteach.
According to BIDV Securities Co (BSC), stocks with goodfundamentals and high expectations on the last-quarter earnings resultscontinued to draw investments.
“We believe that the market is gradually overcoming thestrong correction and ready to conquer the new peak when the Q4 results willattract large amounts of cash flow,” analysts at BSC wrote in a December 20 report.
On the defensive side, brewer Sabeco (SAB) dropped by themaximum limit of 7 per cent on HCM City’s bourse for a second day under heavyprofit-taking pressure after the successful divestment auction.
Other substantial losers included Vinamilk (VNM), down 1 percent;DHG Pharmaceutical (DHG), down 2.1 percent; Mobile World Group (MWG), down 0.7 percent;Coteccons Construction (CTD) and Bình Minh Plastics (BMP) down 2.6 percent.
Liquidity improved slightly with a total of 292.2 millionshares worth a combined 6.5 trillion VND (285 million USD) being traded on thetwo markets, up 3.3 percent in trading volume and 1.6 percent in trading valuecompared to the previous session.
Foreign investors concluded as net buyers for a thirdstraight day on HCM City’s exchanges, picking up 5.5 million shares worth a netvalue of 143 billion VND. They were also net buyers in Hanoi for a modest netvalue of 18.4 billion VND.-VNA
VNA
