Fi­nan­cial stocks lift mar­ket

The Myanmar Times - - International Business -

SHARES closed yes­ter­day’s trade on a pos­i­tive note on the two na­tional stock ex­changes as the bank­ing, se­cu­ri­ties and steel sec­tors con­tin­ued to sup­port the mar­ket.

The VN-In­dex on the HCM Stock Ex­change edged up 0.14 per cent to close at 808.96 points. ViӋt Nam’s key stock in­dex in­creased just 0.4 per cent last week.

On the Hà Nӝi Stock Ex­change, the HNX-In­dex also picked up 0.71 per cent to end at 108.75 points, ex­pand­ing last week’s gain of 0.3 per cent.

The mar­ket has con­tin­ued its up­trend on the two ex­changes but moved side­ways with al­ter­nate ups and downs in re­cent weeks.

Fi­nan­cial and steel stocks re­mained buoy­ant and the main sup­porter for the mar­ket, while con­struc­tion and build­ing ma­te­ri­als, oil and gas and health­care were the main fac­tors on the down­side.

“The mar­ket fluc­tu­a­tion with the dif­fer­en­ti­a­tion of stocks and sec­tors showed that the general in­vest­ment sen­ti­ment is mixed ahead of third quar­ter busi­ness results,” an­a­lysts at BIDV Se­cu­ri­ties Co wrote in a note.

The bank­ing sec­tor showed pos­i­tive results.

All 10 listed banks gained value on the two ex­changes, of which the Big Four (in­clud­ing four largest banks by mar­ket value and to­tal as­sets) – Vi­et­com­bank (VCB), Vi­et­inbank (CTG), BIDV (BID) and Mil­i­tary Bank (MBB) – perked up by less than 1 per cent.

In ad­di­tion, good prospects for the steel sec­tor also helped lead­ing com­pa­nies such as Hòa Phát Group (HPG), Hoa Sen Group (HSG) and POM Steel Corp (POM) rally. HPG and POM in­creased by over 1 per cent while HSG inched up 0.2 per cent.

Big se­cu­ri­ties com­pa­nies, in­clud­ing Saigon Se­cu­ri­ties Inc (SSI), HCM Se­cu­ri­ties (HCM), VNDirect Se­cu­ri­ties (VND), MB Se­cu­ri­ties (MBS) and Sài Gòn-Hà Nӝi Se­cu­ri­ties Co rose be­tween 0.6-5 per cent.

On the de­fen­sive side, the big­gest stocks that weighed on the mar­ket in­cluded VinGroup (VIC), down 1.1 per cent; Petrolimex (PLX), down 0.8 per cent; PetroViet­nam Drilling and Well Ser­vices (PVD), down 1.1 per cent; and PV Gas (GAS), down 0.4 per cent.

Ac­cord­ing to Bҧo ViӋt Se­cu­ri­ties Co, side­ways move­ment may still be seen in com­ing ses­sions but with the up­com­ing third-quar­ter earn­ings results of some listed com­pa­nies, the mar­ket is un­likely to tum­ble in the short term.

Liq­uid­ity was pos­i­tive with a to­tal of over 226 mil­lion shares worth a com­bined VNÐ4.4 tril­lion (US$194 mil­lion) be­ing traded in the two mar­kets, up 32.2 per cent in vol­ume and 42 per cent in value com­pared to last week’s daily trad­ing. – Viet­nam News

Photo: Viet­nam News

Shares closed yes­ter­day’s trade on a pos­i­tive note on the two na­tional stock ex­changes as the bank­ing, se­cu­ri­ties and steel sec­tors con­tin­ued to sup­port the mar­ket.

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