Stacks of US dollars being counted in a commercial bank. Photo: baomoi.com) Hanoi (VNA) - Shares edged up on March 16 on the two national exchanges eventhough the US Federal Reserve on the previous day hiked the benchmark interestrate for the second time in three months. Property, securities and agriculturalstocks were the market momentum.
Onthe HCM Stock Exchange, the VN-Index increased by 0.25 percent to 714.92points.
Onthe Hanoi Stock Exchange, the HNX-Index was up 0.59 percent at 87.97 points.
Liquiditysoared with a total of 234.4 million shares worth 4.74 trillion VND (nearly 208million USD) traded in the two markets, up 31.7 percent in volume and 21.5 percentin value compared to the March 15 levels.
Accordingto market analysts, the Fed’s decision was foreseen and was not expected toshake up markets. Large-cap stocks rose strongly as 22 of the 30 largest bymarket value and liquidity in HCM City gained, and only five declined.
AgribusinessHoang Anh Gia Lai Co (HAG) and Hoang Anh Gia Lai Agricultural Invesment (HNG)hit the daily maximum rise of 7 percent.
Propertystocks were still the magnet and maintained their growth.
Onthe HCM City’s bourse, big firms like VinGroup (VIC), HCM City InfrastructureInvestment (ITA), Kinh Bac City Development (KBC), Dat Xanh Real Estate Service& Construction (DXG), Hoang Quan Real Estate Trading Consulting Service(HQC) and Khang Dien Investment and Trading House (KDC) advanced by 1-4 percent.
Tasco(HUT) on the Hanoi exchange climbed 10 percent.
Allof them were the most heavily-traded stocks in the two markets.
Securitiesstocks emerged on Thursday as popular stickers. Saigon Securities Inc (SSI) andSaigon-Hanoi Securities Co (SHS) experienced high trading liquidity. SHS rose8.5 percent while SSI was up 4.7 percent.
Onthe negative side, shares of Novaland Investment (NVL) lost 1 percent in valuedespite strong foreign buys. (Foreign investors bought a net value of 230.6billion VND for NVL shares on March 16). Meanwhile, FLC Faros Construction(ROS) tumbled 3.2 percent.
Themarket could experience an unexpected slump following its strong performance,stock analysts at Vietnam Investment Securities Co warned, saying the VN-Indexwas being influenced by large-cap stocks.
TheVN-Index rose for two sessions and sank in two this week.
“However,the most important thing is the high trading value, which showed that investorsare staying in the market,” they said, predicting money inflows could shift toblue chips when average prices of low-priced stocks has gone upsignificantly.-VNA
VNA
