Shares rally on improved liquidity
Shares rally on improved liquidity
Shares finished yesterday in the green on both national stock exchanges, capping a strong start to the week.
However, the rally on the HCM City Stock Exchange began to ease as the afternoon session wore on as investors sold off low-price shares.
"Still, it is a positive signal as they showed a more optimistic approach to trading, helping improve liquidity," commented FPT Securities Co analysts.
The benchmark VN-Index added just 0.15 per cent to reach 501.57 points after the late slow down, as gainers swamped losers by 152-65.
The analysts said the VN-Index needed to further exceed the 500-point level to form a sustained uptrend. "Some supportive information, including word that the Viet Nam Asset Management Company is possibly selling non-performing loans to foreign firms, will reinforce the uptrend."
Trading value totalled VND1.49 trillion (US$70.2 million) on a volume of 112.3 million shares, jumping 30 per cent compared to last Friday.
Among the 30 leading shares tracked by the VN30, six stocks slipped back, while a total of 15 blue chips managed to advance. The index closed at 561.30 points, marking a 0.3 per cent rise.
Property developer Tan Tao (ITA) – one of the top 30 large-cap stocks – saw the highest trading volume of 11 million shares. Real estate stocks yesterday boosted the market as ITA, Hoang Quan (HQC), Becamex (IJC) and An Duong Thao Dien (HAR) all made ground.
On the Ha Noi Stock Exchange, the HNX-Index ended up nearly 0.7 per cent, reaching 61.93 points.
The numbers of gainers outstripped decliners by two to one.
The HNX30, representing the exchange's top 30 stocks in terms of capitalisation and liquidity, also rallied around 1 per cent to hit 115.94 points.
With around 51.6 million shares changing hands, the bourse's trading value soared 85.6 per cent over Friday's activity to VND372.2 billion ($17.5 million).
Foreign investors concluded the day as net buyers on both bourses by a margin of VND71.2 billion ($3.3 million), climbing more than 87 per cent over the previous session.
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