VN stocks make modest gains on mid-cap and small-cap firms

Sep 12th at 07:50
12-09-2019 07:50:55+07:00

VN stocks make modest gains on mid-cap and small-cap firms

Vietnamese shares were mixed on Wednesday as capital was directed into mid-cap and small-cap firms.

 

The benchmark VN-Index on the Ho Chi Minh Stock Exchange inched down 0.10 per cent to end at 969.31 points.

The VN-Index has lost a total 1.50 per cent since the start of September.

The HNX-Index on the Ha Noi Stock Exchange advanced 0.20 per cent to close at 100.17 points, ending its previous six-day losing streak of total 2.30 per cent.

Nearly 180 million shares were traded on the two local exchanges, worth VND4.1 trillion (US$177 million).

All sub-component indices on both local exchanges increased on Wednesday, proving market sentiment was better.

Le large-cap VN30 and HNX30 were up 0.28 per cent each. Mid-cap and small-cap indices also advanced between 0.09 per cent and 0.59 per cent on the two bourses.

Stronger gains of mid-cap and small-cap indices compared to large-cap indices showed investors were seeking opportunities in smaller companies’ stocks.

The best-performing sector on the market was the building materials industry, whose index gained 2.5 per cent, data on vietstock.vn showed.

Steel stocks drove the sector up including Hoa Phat Group (HPG), Hoa Sen Group (HSG), Pomina (POM) and Tien Len Steel JSC (TLH).

Those companies saw share prices rise after each of them had supportive news.

Hoa Sen Group has announced it will buy back 16,500 shares as treasury shares. The firm's shares rose 2.3 per cent.

Pomina is planning to issue more than 36.3 million shares to pay a dividend to shareholders. Its shares rose 2.4 per cent.

Meanwhile, Hoa Phat shares and Tien Len Steel shares were up 3.5 per cent and 2.7 per cent, respectively.

Local steel firms also benefited from the Ministry of Industry and Trade’s move to investigate the dumping of cheap Chinese steel products into Viet Nam.

Other sectors that also performed well included ancillary, rubber and plastics, wholesale and insurance.

On the negative side, agriculture, healthcare and pharmaceuticals, seafood processing and consumer staple and electrics weighed on the market.

The stock market struggled with the depletion of trading liquidity, Sai Gon- Ha Noi Securities Co (SHS) said in its daily report.

Market breadth was positive, with total 221 gaining stocks against 187 decliners, showing capital has began spreading widely to other sectors, the company said.

There was still chance for the VN-Index to make technical recoveries in the next days, especially when net foreign selling of only VND8 billion had hardly impacted market sentiment, SHS said.

But SHS noted the market would likely move sideways and struggle within the day as there was little supportive news coming to boost market demand, the company added.

bizhub



RELATED STOCK CODE (5)

NEWS SAME CATEGORY

VN stocks decline on weak confidence

Vietnamese shares slid Wednesday morning as weak market sentiment continued weighing on local companies amid lack of supporting information.

VN stocks fall amid lack of support

Vietnamese shares fell along with global stocks worried about the world economic recession amid a lack of supporting information among local firms.

Shares decline on oil stocks

Shares dropped on Tuesday morning due to the poor performance of oil stocks.

Strong foreign buys rescue VN-Index from fall

Strong buys by foreign investors helped rescue the VN-Index from a fall on Monday when the index was traded below the reference threshold for most of the trading...

Shares volatile on large-cap stocks

Shares dropped on Monday morning and recorded a strong differentiation among large-cap stocks.

Market trend hard to predict after difficult week

The local market remained hard to predict as price movements have been sensitive and showed no certain trends, said analysts and brokerages.

Caution pulls down local shares

Shares ended lower on both national stock exchanges on Friday, as selling pressure intensified in afternoon trading.

Shares down on large-caps

The benchmark VN-Index on the Ho Chi Minh Stock Exchange dropped 0.16 per cent to close at 975.22 points.

Total UPCoM firms reach 850 in August

The total number of companies trading on the Unlisted Public Company Market (UPCoM) reached 850 as of August 30, the Ha Noi Stock Exchange (HNX) has announced.

VN-Index drops for three straight days

The VN-Index declined for three straight days on Thursday as many large caps unexpectedly lost value by the end of the session.

TRENDING


MOST READ


Back To Top