Stock brokers at Saigon Securities Inc help investors trade shares (Photo VNA)Hanoi (VNA)— Shares advanced for a third session on the HCM Stock Exchange on November 7as property developers and energy firms were able to maintain momentum.
The benchmark VN Indexinched up 0.15 percent to close at 850.33 points, making up a three-dayincrease of total 2 percent.
The index growth couldhave been higher if it had not suffered from intraday profit-taking. The VNIndex grew as much as 0.64 percent during the session.
More than 584.7 millionshares were traded on the southern bourse, worth 20.4 trillion VND (909.6 millionUSD) – reaching the market’s highest trading liquidity figures.
The trading figuresposted an increase of 3.4-fold in volume and 3.2-fold in value compared to November6.
The robust improvementof trading liquidity was attributed to foreign trading of Vincom Retail (VRE)shares as foreign investors exchanged about 16.8 trillion VND worth of 415million VRE shares via put-through transactions.
The identity of bothsellers and buyers in VRE deals remained undisclosed.
Foreign investors posteda net buy value of 5.5 trillion VND for VRE shares, equal to nearly 97 percentof their total net buy value made on November 7.
Shares of the largestretailer closed flat at 40,550 VND per share at the end of the trading session.VRE rose as much as 20 percent on the company’s November 6 debut.
The factors that boostedthe major stock market index on November 7 were property developers and energyfirms.
Vincom Retail’s parentcompany – property developer Vingroup (VIC) – advanced 2.5 percent. Other realestate shares also rose, including Nam Long Investment Corp (NLG) and Phat DatReal Estate Development JSC (PDR).
In addition, recentgains in global crude prices helped PetroVietnam Drilling and Well Services(PVD) leap by 5 percent. PVD has gained more than one-fifth since early October.
Brent crude has moved upby nearly 15 percent in the last month and 41 percent since June 21, trading at64.10 USD a barrel.
On the Hanoi StockExchange, the HNX Index fell 0.25 percent to end at 104.83 points, retreatingfrom a two-day increase of total 1.6 percent.
Nearly 40.8 millionshares were traded on the northern bourse, worth 464.3 billion VND.
The VN Index was able tokeep rising and maintained its short-term upward trend, Bao Viet SecuritiesCompany said in its daily report.
However, the tradingliquidity showed no improvement without the value of put-through transactionswhile the benchmark index had to retreat on strong intraday selling pressure,the company said.
“That proves investorswere getting more cautious and concerned about the supply of the stocks thathad been purchased at low-price levels in the previous sessions.”
“The benchmark indexcould face strong profit-taking pressure and turn downwards if it reaches thelevel of 855 points in coming sessions,” the company said.-VNA
VNA
