Investors watch the screens at the Saigon Securities Inc. office in Hanoi (Photo VNA)Hanoi (VNA) -Shares on both local markets advanced further towards the end of December 18 afternoonsession on solid investor confidence following the successful Sabeco shareauction, as well as the recovery of major large-cap stocks.
The VN-Index on the HCM Stock Exchange rallied 2.45 percent to close December 18at 958.06 points. Vietnam’s benchmark index had decreased for the last twotrading weeks by a total 3.6 percent.
Meanwhile on the Hanoi Stock Exchange, the HNX-Index increased 1.88 percent toend at 113.71 points. The northern market index had fallen 4.4 percent in thelast two weeks.
The market upturn was driven by large caps.
Twenty-two of the top 30 largest shares by market value and liquidity on theHCM City’s bourse gained value, six declined and two ended unchanged.
Energy stocks led the market with most big oil and gas companies recordingsubstantial gains, including PV Gas (GAS), up 6.3 percent; PetroVietnamTechnical Services (PVS), up 7.7 percent, PetroVietnam Drilling Mud (PVC), up6.3 percent, PetroVietnam Coating (PVB), up 9.5 percent, and PetroVietnamSouthern Gas (PGS), up 4.43 percent.
Banks were another big supporter with nine of ten listed banks advancing. Thetwo biggest lenders Vietcombank (VCB) and Vietinbank (CTG) increased 3.9 percentand 2.7 percent, respectively, while others increased between 0.2 percent and5.6 percent.
In terms of a singular stock, FLC Faros Construction (ROS) was the biggestgainer, hitting the maximum daily rise of 7 percent at 146,400 VND (6.42 USD) ashare. Dairy giant Vinamilk (VNM) was up 4.1 percent and real estate firmVinGroup (VIC) advanced 5.4 percent.
Shares of brewer Sabeco (SAB) ended flat at 309,200 VND per share, a 3.4 percentdiscount of the average winning price of 320,000 VND at the auction of morethan 343.6 million shares, or 53.59 percent of Sabeco’s capital, offered by theMinistry of Industry and Trade on December 18 afternoon on the HCM StockExchange.
Vietnam Beverage, a unit of Thai Beverage (ThaiBev) purchased the entireoffering.
According to BIDV Securities Co, with support from new cash flow, along withthe end of the correction wave, chances are open for new investors as themarket gradually recovers.
Liquidity was high on December 18 with nearly 309 million shares worth acombined 6.2 trillion VND (272.8 million USD) traded in the two markets.-VNA
VNA
