Foreign investors buoy City market with inflow of cash
Foreign investors buoy City market with inflow of cash
Shares regained their upward trend yesterday afternoon on the HCM City Stock Exchange after a slight decline in the morning, lifting the VN-Index 0.35 per cent to 502.22 points.
Meanwhile, the HNX-Index lost 0.26 per cent to close at 61.23 points.
Strong cash flow into the HCM City Stock Exchange helped the VN-Index add value with more than 72 million shares exchanged, worth more than VND1.13 trillion (US$53.8 million).
The VN30-Index, composed of the southern bourse's 30 largest shares by market capitalisation and liquidity, saw a slight rise of 0.18 per cent to 558.55 points.
Nearly 18,000 shares of Masan Group (MSN) were exchanged yesterday with prices jumping nearly 2 per cent to VND84,500 ($4.02) per share. About 58 per cent were bought by foreign investors.
Vietcombank (VCB) shares increased 2.1 per cent to VND28,400 ($1.35), thanks to foreign investors buying 588,000 shares.
Saigon Securities (SSI) was the most active stock with 4.2 million shares changing hands. The price rose 1.8 per cent to VND16,700.
After news of the VND390 per litre petrol price cut broke on Monday, the HNX-Index dropped 0.26 per cent on trading of more than 44.291 million shares worth VND374.11 billion ($17.91 million).
The PetroVietnam Construction Joint Stock Corporation (PVX) was the market's highlight yesterday with 11.9 million shares traded, occupying 30 per cent of the total trading volume on the capital city's bourse.
The HNX30 Index lost 0.15 per cent to close at 114.54 points yesterday.
Foreign investors remained net buyers in the market with net value of VND98.5 billion ($4.69 million).
According to stock analysts at FPT Securities, coming information about the commercial banks buying bad debts would have a positive impact on the market. They predicted that the VN-Index would jump to 505-510 points.
Viet Nam Investment Securities Company said that the market would continue to be supported and levered by foreign investors.
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