An underwriter monitors stock trades at the Hanoi Securities Trading Centre (Photo VNA)Hanoi (VNS/VNA) - Shares rose further on both local markets on November 15 asinvestors looked for opportunities in other stocks rather than large-caps.
The benchmark VN-Index on the Ho Chi Minh Stock Exchangeedged up 0.19 percent to close at 882.59 points. It recovered after havingdipped as much as 0.5 percent during the morning session.
The southern market index has extended its rallyfor a ninth straight day, growing a total of nearly 6 percent.
The HNX-Index on the Hanoi Stock Exchangegained 0.39 percent to end at 107.48 points. The northern market index hasincreased by 2.5 percent in the last six sessions.
Nearly 237 million shares were traded on the twoexchanges, worth 7.18 trillion VND (319 million USD).
The trading figures declined by 11 percent involume and 26 percent in value compared to November 14.
Across the two local exchanges, gaining stocksoutnumbered losers by 262 to 188 while 108 ended flat.
Foreign investors remained net buyers, postingnet buy value of 152 billion VND, 23.6 percent below the previous session.
Pharmaceutical shares were the best performerson November 15 as the sector was driven up by popular brands such as DomescoMedical Import-Export Corp (DMC), Ha Tay Pharmaceutical JSC (DHT) and DHGPharmaceutical JSC (DHG).
Plastic producers also performed well on theannouncement of the State Capital Investment Corporation (SCIC) that it wouldsell parts of the State’s capital in Binh Minh Plastic Co (BMP) and Tien PhongPlastic Co (NTP) in 2017.
Other industries that also posted good growthrates included retail, rubber production and processing, construction andbuilding materials and real estate.
On the opposite side, some large-cap stocks werehit by strong profit-taking such as the largest retailer Vincom Retail (VRE),Bank for Investment and Development of Vietnam (BID), Vietcombank (VCB) andPetroVietnam Gas (GAS).
Among those stocks, VRE had gained 16 percent inseven sessions after debuting on November 6; BID had moved up 3.4 percent inthree days; VCB and GAS had made two-day gains of 1.6 percent and 4.1 percent.
Sai Gon-Hanoi Securities (SHS) said in its dailyreport that cash flow was spreading among shares on the market instead offocusing on large-caps, giving investors better opportunities to earn.
However, as the benchmark index has climbed andremained above the 880-point level for the last two sessions, profit-takingwill increase and put the market in a short-term correction soon, SHS said.-VNA
