Shares rebounded on August 14 after four consecutive downturns on the two national stock exchanges last week, boosted by recovery of large-cap stocks (Photo: VNA)Hanoi (VNA) –Shares rebounded on August 14 after four consecutive downturns on the twonational stock exchanges last week, boosted by recovery of large-cap stocks.
The VN-Index on the HCM Stock Exchange picked up 0.53 percent to close at776.17 points. The benchmark index slipped 2.64 percent in the last foursessions.
Only four of the top 30 largest shares by market value and liquidity on thesouthern exchange tumbled, while 22 advanced.
Capital was channeled into various sectors, including banks, steel andpharmaceutical firms, construction and real estate.
Banks were among the biggest gainers with five of listed lenders gaining value;four of the largest banks by market value – Vietcombank (VCB), Vietinbank(CTG), BIDV (BID) and Military Bank (MBB) – increased between 0.5 percent and3.6 percent.
Advancers also included steelmakers Hoa Phat Group (HPG) and Hoa Sen Group(HSG), DHG Pharmaceutical (DHG), Kinh Bac City Development (KBC), FLC FarosConstruction (ROS), HCM Infrastructure Investment (CII) and PV Gas (GAS).
On the negative side, the two biggest firms food and beverage industry firms,Vinamilk (VNM) and Sabeco (SAB), slumped and restrained the market rise.
“However, the VN30-Index increasing further than the VN-Index indicatedinvestors’ tendency to increase their portfolio proportion of the large-capstocks in the VN30 basket,” analysts at BIDV Securities Co (BSC) wrote in theirdaily report.
The VN30-Index, which tracks the performance of the top 30 shares by marketvalue and liquidity on the HCM Stock Exchange, edged up 0.86 percent at 751.39points.
Market liquidity remained low, pointing to conservative sentiment in themarket, BSC’s analysts said.
[Stock market sees 23 firms with over 1 billion USD]
Over 185.5 million shares worth 3.45 trillion VND (152 million USD) were tradedin the southern market on August 14, down 17.3 percent in volume and 14.2 percentin value compared to last week’s daily average volume and value.
BSC forecast that the market would move up and fluctuate around the 780 pointsin the next session.
On the Hanoi Stock Exchange, the HNX-Index increased 0.64 percent to end at101.5 points, recouping part of a 1.52 per cent loss in the last four sessions.
Nearly 54 million shares worth 491 billion VND were exchanged on the northernmarket.
Foreign investors remained net buyers on the HCM City’s exchange for threeconsecutive trades but their net buy value decreased 35.6 percent to just 60billion VND. Their buys continued focusing on blue chips, such as Hoa PhatGroup, DHG Pharmaceutical and Vinamilk.
However, they extended their net selling activities on the Hanoi market for avalue of 5.4 billion VND, up 57.6 percent over the previous session.-VNA
VNA
