Earnings data helps lift shares
Earnings data helps lift shares
After brief declines on Monday, shares on both of the nation's stock exchanges climbed again July 17.
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| Source: VietstockFinance |
On the HCM City Stock Exchange, the VN-Index rose 0.86 per cent to close at 417.55 points, while the value of trades rose by 40 per cent from the previous day to nearly VND782.7 billion (US$37.3 million).
Advancers overwhelmed decliners by 199-36, once again led by blue chips. The VN30 Index, tracking the 30 leading shares by market capitalisation and liquidity, rose 0.9 per cent to close at just over 493 points. Tan Tao Investment Industry (ITA) was the most active share on the HCM City market, with 1.75 million shares exchanged before closing up by 3 per cent to VND6,900 per share.
On the Ha Noi Stock Exchange, the HNX-Index also gained 2.3 per cent to end the session at 71.40 points. The value of trades jumped 21 per cent over Monday's level, reaching nearly VND370 billion ($9.6 million) on a volume of 40.5 million shares. The HNX30 Index also rose by 3.66 per cent to close at 136.23 points.
Securities companies were the biggest gainers on both exchanges, largely on the strength of improved earnings in the first half of this year. Sai Gon Securities Inc (SSI), HCM City Securities Co (HCM), Bao Viet Securities Co (BVS) and VNDirect Securities Co (VND) all hit their ceiling prices after reporting high profits in the first six months ranging from VND60 billion ($2.9 million) to VND348 billion ($16.6 million).
VNDirect Securities (VND), with nearly 4.6 million shares exchanged, was again the most-active share yesterday, closing at its ceiling price of VND10,700.
According to technical analysts of Kim Long Securities Co, stock indices have continued to decline despite the market signalling a short-term uptrend in recent sessions. However, the psychology of grasping short-term profits continues strong among investors, particularly when the market lacks any supportive news, they said.
Foreign investors continued to be net buyers on both exchanges yesterday, responsible for a combined net buy of over VND30.5 billion ($1.5 million) worth of shares.
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