VN-Index rebounds on ROS, Vietjet
VN-Index rebounds on ROS, Vietjet
Shares rebounded after a three-day decline on the HCM Stock Exchange on Friday, with the benchmark VN-Index rising 0.4 per cent to close at 807.13 points, after declining 0.5 per cent in the last three sessions. Strong rallies of several heavyweight stocks supported the market.
Both FLC Faros Construction (ROS) and budget airline Vietjet (VJC), two of the top 30 largest stocks by market value, hit the ceiling increase of 7 per cent a day regulated by the HCM Stock Exchange.
While there was no supportive information concerning ROS, Vietjet on Friday paid bonus shares at a ratio of 40 per cent, equivalent to a total of nearly 129 million shares.
ROS led the market by market value with nearly 2.8 million shares worth VND338.7 billion (US$14.9 million) being traded. VJC came second with over 1.5 million shares worth VND154 billion exchanged.
Some large-cap stocks maintained an uptrend, including PV Gas (GAS), insurer Bao Viet Holdings (BVH), brewer Sabeco (SAB), FPT Corp (FPT), steelmaker Hoa Phat Group (HPG), Masan Group (MSN) and Mobile World Group (MWG).
Meanwhile, bank shares slumped after Thursday’s rally.
Except Eximbank (EIB) closed flat, and other six listed banks on the HCM City’s exchange gave up values. The Big Four (four biggest banks by market value and assets) – Vietcombank (VCB), Vietinbank (CTG), BIDV (BID) and Military Bank (MBB) – decreased between 0.5-1.3 per cent.
According to BIDV Securities Co, Friday’s rally was mainly driven by some heavyweight stocks while cash flows only concentrated on some stocks.
Besides large caps, investors focused investments on realty stocks with positive earnings prospect in the third quarter. The most heavily-traded stocks included FLC Group (FLC), Dat Xanh Real Estate Service & Construction (DXG), Hoang Quan Consulting-Trading-Service Real Estate (HQC), Sai Gon Thuong Tin Real Estate (SCR) and Tan Tao Investment Industry (ITA) with 3.6-15 million shares traded on each code.
On the Ha Noi Stock Exchange, the HNX-Index climbed for a third day, up 0.72 per cent to end at 106.52 points. The northern market index has rallied 1.7 per cent over the last three sessions.
Liquidity continued to increase with a total of 269.7 million shares worth a combined VND5 trillion ($220.3 million) being traded in the two markets, up 21.2 per cent in volume and 16.3 per cent in value compared to Thursday’s levels.
Foreign traders were mixed on Friday. They remained net sellers in HCM City’s market for a small value of just over VND3.7 billion, but they picked up shares worth a net VND8 billion in Ha Noi’s market.
