Illustrative image (Source: motthegioi)Hanoi (VNA) – Shares increased marginally on February 8 after swayingseveral times during the session on heightened investor prudence.
On the HCM Stock Exchange, the VN-Index inched up 0.02 percent to close at702.04 points. It rose 0.3 percent on February 7.
On the Hanoi Stock Exchange, the HNX-Index edged up 0.08 percent to end at85.29 points. The northern index gained 0.9 percent in the previous session.
Declining global oil prices harmed local energy stocks as most of the biggestoil and gas shares lost value on February 8.
The largest listed gas company PV Gas (GAS), along with PetroVietnam Drillingand Wells Service (PVD), PetroVietnam Technical Services (PVS), PetroleumEquipment Assembly & Metal Structure (PXS), PetroVietNam Low Pressure GasDistribution (PGD) and PetroVietnam Drilling Mud (PVC) were down between 0.5percent and 2.4 percent.
Crude oil declined for the third session in a row in international commodityexchanges. US crude WTI slid 1.1 percent to trade at 51.59 USD a barrel,totalling three-day losses of 4.2 percent. Brent crude was down 0.8 percent totrade at 54.63 USD a barrel.
Banks were mixed, as BIDV (BID) and Vietinbank (CTG) tumbled but Vietcombank(VCB), Military Bank (MBB), Sacombank (STB) advanced.
On the positive side, steel and agricultural shares performed well. SteelmakerHoa Phat Group (HPG) extended gains to six consecutive sessions with totalgrowth of more than 6 percent on February 8.
Hoang Anh Gia Lai Group (HAG) and its agricultural arm Hoang Anh Gia LaiAgricultural (HNG) also recorded gains. HAG rose for a third day with total 5.4percent growth while HNG recorded an 11-per-cent rise across four consecutivesessions.
According to stock analysts at FPT Securities Co, investors focused on stockswith positive earnings reports as well as receiving support information such asbanks, steel and fertiliser companies.
However, investors become more prudent at the landmark of 700 points on theVN-Index. The market may reach 710 points if large-cap stocks maintain theirmomentum.
Among the top 30 shares by market value and liquidity on the main bourse in HCMCity, 16 advanced while only nine declined.
Trading volume decreased slightly to 193.3 million shares but value of tradesdropped more than 20 percent to a total of 3 trillion VND (133 million USD) onthe two markets.
Foreign investors were net sellers on the two exchanges for a total net valueof 38 billion VND. – VNA
VNA
