Illustrative image (Source: VNA)Hanoi (VNA) - Vietnamese sharesadvanced on January 15 as large-cap firms were boosted by positive investorconfidence that was looking for opportunities in the earnings season.
The benchmark VN-Index on the HCM StockExchange rose 1.27 percent to close at 1,063.47 points. It gained total 3.7 percentlast week.
The minor HNX-Index on the Hanoi StockExchange added 1.06 percent to end at 122.03 points after posting a weeklygrowth of 1.5 percent at the end of January 12.
More than 359.8 million shares were tradedon the two local exchanges, worth 8.66 trillion VND (385.2 million USD).
These trading figures were down 11.3 percentin volume and 6.5 percent in value compared to the previous week’s averagedaily numbers.
Across the two local exchanges, there were248 gaining stocks, 232 declining ones and 115 stocks ending flat.
Large-cap stocks performed well as the VN30Index, which tracks the performance of the 30 largest shares by marketcapitalisation, advanced 1.21 percent to 1,508.60 points with two-thirds of the30 stocks advancing.
Gainers in the VN30 basket included insurerBao Viet Holdings (BVH), Vietcombank (VCB), property developer Novaland (NVL),and steel producers Hoa Sen (HSG) and Hoa Phat (HPG). Those stocks jumped atleast 3 percent each.
Among other large-caps that recorded stronggrowth were petrol dealer Petrolimex (PLX) and budget carrier Vietjet (VJC)after the two stocks were about to be included into the VN30 basket by the HCMStock Exchange from January 22 to July 20, 2018.
The rubber industry also posted stronggrowth on Monday as the industry index surged 6.6 percent, data on vietstock.vnshowed. The industry was led by Dong Phu Rubber JSC (DPR) and Phuoc Hoa RubberJSC (PHR).
According to analysts, the market sentimentwill be still dominated by investors’ expectations for good quarterly andyearly corporate earnings reports as well as firms’ forecasts for 2018.
Ngo Quoc Hung, analyst at VietinbankSecurities Company told online newspaper VnEconomy that such expectations wouldkeep driving the market up in the short-term.
Corporate earnings reports for the pastquarter and the whole year were forecast to be higher than expected, Hung said,adding that earnings reports and business information were becoming moretransparent to investors and investors had reacted positively to the marketinformation.
Among the companies mentioned above,Vietinbank has estimated its pre-tax profit in 2017 would reach 9.2 trillionVND, while Dong Phu Rubber JSC has reported its combined profit for the first11 months of 2017 reached 244 billion VND, twice the 2016 number.
However, Saigon-Hanoi Securities Companysaid in its market daily report that selling pressure may get stronger in thenext few sessions as the market trading condition was not quite positive enoughgiven that there were many stocks suffering on the two local exchanges.
The brokerage firm forecast the VN-Indexwould encounter strong profit-taking pressure when it approached the range of1,060-1,070 points on January 16. - VNA
The benchmark VN-Index on the HCM StockExchange rose 1.27 percent to close at 1,063.47 points. It gained total 3.7 percentlast week.
The minor HNX-Index on the Hanoi StockExchange added 1.06 percent to end at 122.03 points after posting a weeklygrowth of 1.5 percent at the end of January 12.
More than 359.8 million shares were tradedon the two local exchanges, worth 8.66 trillion VND (385.2 million USD).
These trading figures were down 11.3 percentin volume and 6.5 percent in value compared to the previous week’s averagedaily numbers.
Across the two local exchanges, there were248 gaining stocks, 232 declining ones and 115 stocks ending flat.
Large-cap stocks performed well as the VN30Index, which tracks the performance of the 30 largest shares by marketcapitalisation, advanced 1.21 percent to 1,508.60 points with two-thirds of the30 stocks advancing.
Gainers in the VN30 basket included insurerBao Viet Holdings (BVH), Vietcombank (VCB), property developer Novaland (NVL),and steel producers Hoa Sen (HSG) and Hoa Phat (HPG). Those stocks jumped atleast 3 percent each.
Among other large-caps that recorded stronggrowth were petrol dealer Petrolimex (PLX) and budget carrier Vietjet (VJC)after the two stocks were about to be included into the VN30 basket by the HCMStock Exchange from January 22 to July 20, 2018.
The rubber industry also posted stronggrowth on Monday as the industry index surged 6.6 percent, data on vietstock.vnshowed. The industry was led by Dong Phu Rubber JSC (DPR) and Phuoc Hoa RubberJSC (PHR).
According to analysts, the market sentimentwill be still dominated by investors’ expectations for good quarterly andyearly corporate earnings reports as well as firms’ forecasts for 2018.
Ngo Quoc Hung, analyst at VietinbankSecurities Company told online newspaper VnEconomy that such expectations wouldkeep driving the market up in the short-term.
Corporate earnings reports for the pastquarter and the whole year were forecast to be higher than expected, Hung said,adding that earnings reports and business information were becoming moretransparent to investors and investors had reacted positively to the marketinformation.
Among the companies mentioned above,Vietinbank has estimated its pre-tax profit in 2017 would reach 9.2 trillionVND, while Dong Phu Rubber JSC has reported its combined profit for the first11 months of 2017 reached 244 billion VND, twice the 2016 number.
However, Saigon-Hanoi Securities Companysaid in its market daily report that selling pressure may get stronger in thenext few sessions as the market trading condition was not quite positive enoughgiven that there were many stocks suffering on the two local exchanges.
The brokerage firm forecast the VN-Indexwould encounter strong profit-taking pressure when it approached the range of1,060-1,070 points on January 16. - VNA
VNA
