Markets surge on high liquidity
Markets surge on high liquidity
Benchmark indices closed at a three-month high yesterday on both national stock exchanges.
On the HCM City Stock Exchange, the VN-Index jumped 1.03 per cent to finish at 506.48 points.
The southern bourse witnessed strong cash flow yesterday with a total trading value of VND1.526 trillion (US$72.66 million) on the exchange of 115.879 million shares.
Both value and volume were higher than last week. More than 187 codes advanced while only 53 lost.
According to FPT Securities, the market received strong support from blue chips yesterday.
The VN30-Index, tracking the southern city's top shares by capitalisation and liquidity, closed 1 per cent higher at 565.35 points. Advancers overwhelmed losers 24-2.
Losers included PetroVietnam Low Pressure Gas Distribution (PGD) and Becamex (IJC), which each lost VND100 ($0.0048) per share.
Masan Group (MNG) advanced 1.8 per cent to VND81,500 ($3.88) per share, while Southern Rubber Industry (CSM) and Da Nang Rubber Company both gained VND1,000 ($0.048) per share to reach VND35,800 ($1.70) and VND40,700 ($1.90) respectively.
Other gainers included Bao Viet Group (BVH), FPT Group (FPT), Hoa Sen Group (HSG), PetroVietnam Transport Corporation (PVT), Vinamilk (VNM), Vingroup (VIC) and Vietcombank (VCB).
Penny and mid-cap stocks also attracted investors yesterday. FPT Securities attributed the strong increase to investor sentiment rather than new information.
PetroVietnam Transport Corporation (PVT) led the southern bourse in liquidity with 8.2 million shares changing hands, followed by Tan Tao Group (ITA) with 7.4 million shares.
On the Ha Noi Stock Exchange, the HNX-Index rose for three straight days, landing at 64.39 points yesterday or 0.22 per cent higher.
More than 53.44 million shares changed hands with a total value of VND406.07 billion ($19.33 million).
The HNX30-Index, composed of the capital city's largest shares, advanced 1.42 per cent to 122.49 points.
FPT securities said opportunities for investment in securities were huge, unlike other investment channels like gold and real estate markets.
According to the Viet Nam Investment Securities Company, high liquidity reflected investor optimism and forecast continued rallying, but risks still existed.
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