Investors trace market movements (Photo: tbck.vn)Hanoi (VNA) - Shares edged up slightly on the two stock exchanges on Febrary7, along with a sharp increase in liquidity, driven by positive market outlook.
TheVN-Index on the HCM Stock Exchange rose 0.3 percent to close at 701.9 points.On the Hanoi Stock Exchange, the HNX-Index also added 0.85 percent to end at85.7 points.
Bluechips had mixed impact.
Someheavyweight stocks on the main bourse in HCM City such as dairy firm Vinamilk(VNM), real estate giant VinGroup (VIC), FPT Corp (FPT), Vietcombank (VCB) andSaigon Securities Inc (SSI) maintained upward trends.
“Themoney is rotating around big stocks and shifting to stocks of small and mediumcapitalisation, as well as moving from the banking sector to the oil and gasgroup, construction and agriculture,” analysts at BIDV Securities Co (BSC) wrotein a market report.
Amonggainers, steelmaker Hoa Phat Group (HPG), Kinh Bac City Development (KBC), HoangAnh Gia Lai Co (HAG) and its agriculture arm Hoang Anh Gia Lai Agricultural(HNG) advanced by between 1.1 and 2.4 percent each.
HPGrose 1.5 percent to 44,600 VND (1.97 USD) per share after the Dung Quat EconomicZone Authority and Quang Ngai Industrial Park Management Board on Mondaygranted it an investment certificate to build a 2.65 billion USD iron and steelproduction complex.
Overallmarket condition was negative, however, with 231 stocks declining, 204 risingand 269 closing unchanged.
Liquidityclimbed with a total of 198.4 million shares worth a combined 3.76 trillion VND(166.4 million USD) being traded in the two markets, up 25 percent in volumeand 30 percent in value compared to the levels of the day before.
Accordingto BSC analysts, if high liquidity is maintained, the market index has a chanceto rise to around 700 points, as well as creating momentum to conquerresistance at 710 in the next sessions.
Foreigninvestors remained net buyers in HCM City’s market but their net buy valuedecreased 68 percent from the previous session to just 670 million VND. Theirpurchases focused on blue chips such as Vinamilk, Saigon Securities Inc,Novaland Investment Group and Hoa Phat Group.
Theyturned to be net sellers on the Hanoi bourse for a value of 1.3 billion VND.-VNA
VNA
