Stock markets close in the green
Stock markets close in the green
Shares extended their rally on both national stock exchanges November 12 as trading values continued to improve.
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| Source: VietstockFinance |
The VN-Index on the HCM City Stock Exchange edged up 0.49 per cent to 388.62 points, while gainers outnumbered losers by 158-57.
Trading value in the southern city soared 65 per cent on last Friday's session to reach nearly VND527.4 billion ($25 million) on the volume of 41.9 million shares.
The VN30 also rose 0.73 per cent to 460.56 points thanks to the advance of 21 blue chips. Meanwhile, three property developers hit their ceiling prices, including Dic Corp (DIG), Tu Liem Urban Development (NTL) and Ocean Group (OGC).
However, six other stocks tracked by the index lost between 0.3-1.3 per cent, including insurer Bao Viet (BVH), steelmaker Hoa Phat (HPG), Sacombank (STB), commercial baker Kinh Do (KDC), Phu Nhuan Jewelry (PNJ) and Vietcombank (VCB).
On the Ha Noi Stock Exchange, the benchmark HNX-Index enjoyed an increase of 1.82 per cent, reaching 52.52 points.
Around 42 million shares changed hands, totalling a combined value of VND255.5 billion ($12 million), representing an 80 per cent increase on last Friday's trading.
The HNX30, comprised of the northern bourse's biggest companies, put on 0.82 per cent to close at 94.25 points.
Meanwhile, penny stocks performed well yesterday, most of which reached their daily increase limit.
In addition, shares in securities, real estate, construction and mineral companies rebounded strongly.
The movements surrounding the 385-390 point level played an important role in determining market trends, said FPT Securities Co analysts. They predict the VN-Index will continue to increase but progress will be far from steady.
"The reduction in petrol prices by VND500 is not very positive in the current context," said the analysts. Meanwhile, stocks could face strong resistance levels and the pressure of correction is high after several consecutive rising sessions.
"Therefore, we maintain our recommendation that investors hold their cash until the market receives more encouraging information."
Foreign investors boosted purchasing power yesterday by concluding as net buyers with a positive margin of VND27.2 billion ($1.3 million).
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