Shares rise as liquidity worries investors
Shares rise as liquidity worries investors
Shares extended rallies yesterday on both bourses but draining liquidity remained a big concern for investors.
On the HCM City Stock Exchange, the VN-Index inched up 0.18 per cent to close at 547.85 points as the advancers slightly edged the decliners 111-96 while other 101 stocks went flat.
Purchasing power was weak, pushing the market volume down another 10 per cent compared with Thursday's level, totaling nearly 71 million shares, while the value of trades dropped 20 per cent to reach VND1.05 trillion (US$49.1 million).
FLC Group (FLC), a member of the VN30 basket, was the most active code with 12.6 million shares, traded at the unchanged price of VND10,600 ($0.50) a share.
Money continued to flow into blue chips with good fundamentals.
Biggest gainers included PetroVietnam Drilling and Wells Service Corp (PVD) with a rise of 2.5 per cent in value, followed by steelmaker Hoa Phat Group (HPG), up 1.8 per cent and PV Gas (GAS), up 1.6 per cent.
Bank stocks were mixed. While Eximbank (EIB) and Sacombank (STB) advanced, Military Bank (MBB), Vietinbank (CTG) and Bank for Investment and Development of Viet Nam (BID) lost value.
The VN30, which tracks the top 30 shares by market value and liquidity, increased 0.27 per cent to end at 577.66 points.
On the Ha Noi Stock Exchange, recovery of blue chips also helped lifted the HNX-Index by 0.41 per cent to close at 81.93 points.
Large-cap stocks like Asia Commercial Bank (ACB), Sai Gon Thuong Tin Real Estate Co (SCR) and PetroVietnam Technical Services Corp (PVS) led the uptrend.
Liquidity continued to slide here as just 30 million shares worth VND382.6 billion ($17.8 million) were traded by the end of the session.
F.I.T Investment Co (FIT) remained the most active code with the trading of 3.7 million shares, jumping 1.2 per cent to settle at VND17,200 ($0.80) each.
Foreign investors increased their buys in the HCM City market, responsible for a net buy value of VND54.2 billion ($2.5 million), but they turned to conclude as net sellers on the Ha Noi exchange, unloading shares worth VND9.5 billion ($444,000).
