Stock trading at a Sai Gon Securities Incorporation (SSI) Ha Noi branch. (Photo: VNA)Hanoi (VNA) - Shares bounced back onJuly 5, boosted by strong capital inflows for large-cap stocks.
The benchmarkVN-Index on the Ho Chi Minh Stock Exchange ticked up 0.36 percent to close at778.32 points. The southern market index was down 0.43 percent on July 4.
Overall marketbreadth was positive with 168 stocks advancing, 111 declining and 58 remainingunchanged.
Eighteen of thetop 30 largest shares by market value and liquidity gained value, led byfinancial and energy stocks.
Securities firmswere the biggest gainers, with an average growth of over 2 percent, data on vietstock.vn showed.
The two biggestlisted brokerage firms – Saigon Securities Inc (SSI) and HCM Securities Corp(HCM) – increased 0.2 percent and 1.2 percent, respectively.
SSI climbed for asixth straight day, for a combined 4.9 percent while HCM rose for threesessions in a row with a total growth of 6 percent.
Other smallerfirms, including BIDV Securities (BIS) and Vietinbank Securities (CTS), leapt5.2 percent and 6.9 percent, respectively.
Banks alsorecovered, with five of six listed banks on the HCM City’s exchange rebounding.Only Military Bank (MBB) continued a downward trend, other banks includingVietcombank (VCB), Vietinbank (CTG), BIDV (BID), Sacombank (STB) and Eximbank(EIB) ticked up between 0.3-1.9 percent each.
The two biggestlisted energy firms – PV Gas (GAS) and Petrolimex (PLX) – increased 1.9 percentand 1.6 percent, respectively.
Global oil pricesslumped on July 4 after eight straight days of gains. Brent crude futuressettled at 49.46 USD per barrel while the US West Texas Intermediate (WTI)crude futures were traded at 46.87 USD a barrel.
Money shiftedfocus on low-priced shares such as Ocean Group (OGC), Tan Tao Investment andIndustry (ITA), Hoang Quan Consulting-Trading-Service Real Estate (HQC), DucLong Gia Lai Group (DLG) and HAI Agrochem (HAI).
They remained themost five active stocks in the HCM City’s market, with six to 23 million sharestraded in each code.
“Buying demand was maintained and turned over among different groups of stocks to keep VN-Index’s uptrend. However, we still forecast that the index is highly likely to decline in the short term,” analysts at Bao Viet Securities Cowrote in a note.
Investors soughtnew opportunities in shares with solid data and positive earning prospects inthe second quarter, which will be gradually announced starting this week.
On the HanoiStock Exchange, the HNX-Index climbed for a second day, adding 1.44 percent toend at 101.92 points. The northern market inched up 0.15 percent in the previoussession.
A total of 287million shares worth 4.4 trillion VND (roughly 194 million USD) were traded inthe two markets.-VNA
VNA
