Q3 results boost national indices
Q3 results boost national indices
Vietnamese stocks managed to rally October 3, with markets seeing improved trading values after a four-day decline.
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| Source: VietstockFinance |
In the absence of other supporting information, investors kept their eyes on third-quarter earnings, with Viet Dragon Securities Co analysts pointing to a few productive companies, including Vinamilk (VNM), steelmakers Hoa Phat (HPG) and Hoa Sen (HSG), food processor Bourbon Tay Ninh (SBT), Da Nang Rubber Co (DRC), HCM City Securities Co (HCM) and PetroVietnam Technical Services Co (PVS).
However, analysts for the financial information website vietstock.vn warned, "The market may recover slightly, but the downtrend can hardly be reversed."
On the HCM City Stock Exchange, the VN-Index closed up 0.27 per cent to 385.37 points, with more than half of listed stocks adding value. Over 36.5 million shares changed hands, with a total value of VND567.6 billion (US$15.3 million) – an increase of 58.7 per cent over Tuesday's level.
About two-thirds of the 30 leading shares tracked by the VN30 Index rose, including insurer Bao Viet Holdings (BVH), which closed up by 2.7 per cent, and real estate developer Hoang Anh Gia Lai (HAG), which gained 3 per cent. The VN30 advanced by 0.33 per cent to 450.44 points.
On the Ha Noi Stock Exchange, HNX-Index also saw a modest rally, adding 0.46 per cent on the day to conclude the session at 54.19 points. Although the value of trades improved, it remained low at just VND143.8 billion ($6.8 million). Volume was a meagre 20.8 million shares.
The HNX30 Index, tracking the 30 leading shares on the Ha Noi market by capitalisation and liquidity, close up by 1.16 per cent to 100.71 points.
Foreign investors concluded yesterday as sellers on both exchanges by a combined margin of VND19.6 billion ($900,000).
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