Stocks up in first trading day of 2017

05-Jan-2017 Intellasia | The Saigon Times | 12:56 PM Print This Post

Vietnam’s equity market got off to a good start in the new year as the VN Index of the HCM City exchange added over seven points (1.07 percent) at 672.01 points on January 3.

Liquidity stayed low since investors changed hands 84.6 million shares worth a combined VND1.8 trillion (US$82 million). Of them, matching transactions accounted for 79.7 million shares valued at VND1.6 trillion. Weak cash flow was attributable to the lingering holiday mood.

According to Dau tu Chung khoan newspaper, bank stocks rose strongly in morning trade, prompting the market to go up. The afternoon session saw the main index surpassing 670 points, backed by rises of various stocks, especially those in the steel and securities sectors.

BID and CTG rocketed to the ceiling prices. The first ended at VND15,150 a share with 4.95 million shares traded and the latter stood at VND16,100 a share with over one million shares changing hands.

Similarly, VCB added 5.08 percent to VND37,250 a share. On the Hanoi bourse, ACB climbed 7.95 percent and SHB nudged up 2.17 percent.

In contrast, STB plunged to the floor price of VND8,790 a share on profit taking with nearly five million shares traded, the biggest trading volume on the southern bourse.

In the securities sector, HCM jumped 4.04 percent and SSI increased 2.3 percent. Many stocks in the steel sector also made big gains.

Investors injected money into the two sectors to price in the high possibility of strong earnings in last year’s fourth quarter of those firms, which will be announced in the near future.

Furniture enterprise TTF, which faced a selloff in previous sessions, gained 6.86 percent at VND5,760 a share on January 3.

Overall, 137 stocks edged higher and 110 stayed in negative territory on the HCM City market.

Many stocks also made gains on the Hanoi bourse, leading the HNX-Index to close up 1.61 percent at 81.4 points.

There were 32.3 million shares worth a total of VND287.7 billion traded. Matched volume leapt nearly 35 percent to 27.8 million shares.

Meanwhile, foreign investors net bought VND8 billion worth of shares on the HCM City exchange, down sharply from the previous session. They spent VND21.48 billion on VNM, VND14.7 billion on GTN and more than VND3 billion on SSI.

HBC with VND27 billion, VIC with VND4.7 billion and HPG with VND4.6 billion were offloaded.

The Hanoi bourse saw foreigners’ net purchases falling 15 percent from the session earlier to VND6.6 billion on January 3. These investors acquired PVS with VND3.4 billion and HUT with VND2.6 billion, while they sold IVS shares worth VND1.3 billion.


Category: Stocks, Vietnam

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