A woman walks past an electronic board showing share prices at Bao Viet Securities Co on Ba Trieu street in Hanoi (Photo: VNA)Hanoi (VNA) - The benchmarkVN-Index rebounded on June 23 after two declining sessions on the recovery ofseveral key stocks.
On the HCM Stock Exchange, the VN-Index wasup 0.35 percent to close at 769.01 points, expanding the market’s growth to 1 percentfor the week.
Bank stocks, which were the market enginein the past rally, saw divergence. The two of the three largest listed lenders– Vietinbank (CTG) and BIDV (BID) – recouped 0.3 percent each. Vietcombank(VCB) closed unchanged while three other listed banks slipped between 0.7-1.9 percent.
On the positive side, some large-cap stocksgained valued and supported the market.
Petrolimex (PLX) rose for five days in arow, up 2.7 percent on June 23 at 71,400 VND (3.15 USD) a share, gaining 13.6 percent.
Vinamilk (VNM), brewery Sabeco (SAB),budget airline Vietjet (VJC) and insurer Bao Viet Holdings (BVH), in the top 10largest shares by market value on HCM City’s bourse, also increased.
“As the leading bank shares are underprofit-taking pressure while the second-quarter business results are notavailable, the market lacks supportive information,” market analysts at VietnamInvestment Securities Co (IVS) wrote in a note.
IVS’s analysts have suggested investorsfocus on potential stocks rather than on the VN-Index, as though the marketindex is moving in a narrow range, strong money inflows would continue to boostmany stocks.
Overall market condition was positive with162 stocks advancing, 119 declining and 54 ending flat.
Almost 255 million shares worth 4.7trillion VND (27 million USD) were traded in the HCM City market, up 13.4 percentin volume and 4.4 percent in value compared to the June 22 figures.
Money continued to flow into small- andmid-cap stocks, particularly real estate shares such as Hoang Quan Consulting-Trading-ServiceReal Estate (HQC), FLC Group (FLC), Dat Xanh Real Estate Service &Construction (DXG) and Saigon Thuong Tin Real Estate (SCR) with each havingseveral million shares exchanged.
On the Hanoi Stock Exchange, the HNX-Indexslipped for a third day, down 0.34 percent at 98.27 points.
Nearly 48.6 million shares worth 623.6billion VND (27.5 million USD) were traded on the northern market.
Foreign investors concluded as net buyers on thetwo exchanges, picking up shares worth a combined 136 billion VND.-VNA
VNA
