Foreign investors help lift Stock Market

VN-Index of Ho Chi Minh Stock Exchange (HoSE) rose 1.43 points, or 0.29 per cent, to 502.68 points, after falling to under 500 points during the session.

The rise was helped by major stocks making significant gains. PetroVietnam Finance (PVF), FPT Corp. (FPT) and Kinh Bac City (KBC) all hit the ceiling.

PetroVietnam Fertilisers added 3.69 per cent, Hoa Phat Group rose 2.65 per cent while Hoang Anh Gia Lai Group up 1.85 per cent.

Eximbank (EIB) slightly rose 0.66 per cent to VND15,300 while Sacombank (STB) ended flat and Vietinbank (CTG) lost 0.43 per cent.

Some of those stocks were mainly supported by foreigners, among them Hoang Anh Gia Lai Group (HAG) which was bought at nearly 500,000 units, followed by Vietcombank (VCB) at some 396,000 and PetroVietnam Fertilisers (DPM), 348,000.

Hoa Phat Group (HPG), Itaco (ITA), FPT Corp. (FPT), Sai Gon Securities Inc. (SSI) were focused also with more than 300,000 purchased each.

Whereas, Bao Viet Holding hit the floor for the fourth session in a row to VND85,000, Masan Group (MSN) gave back 2.3 per cent to VN85,000 as well.

Sai Gon Securities was the most active on the southern bourse with more than 1.4 million shares changing hand, up 3.11 per cent to VND29,800.

Today’s recovery validated analysts’ previous optimistic expectations as they largely saw previous slides as a market adjustment before making a stable upward-trend.

“We think that the market successfully tested the supply,” said Vietnam International Securities.

Liquidity significantly recovered with 30.03 million shares worth VND815.29 billion ($40.76 million) traded, up 36.26 per cent and 41.18 per cent respectively.

Advancers turned heads to strongly outrun decliners 161 to 61, of which 15 hit the ceiling and 10 hit the floor.

On the Hanoi Stock Exchange, the HNX-Index slightly rose again to 106.62 points, up 0.86 points or 0.81 per cent. Liquidity was up also to 19.11 million shares, up 20.98 per cent with value reaching VND343.61 billion ($17.18 million), up 17.92 per cent.

Stocks largely rose on the northern bourse with 195 stocks advancing, compared with 77 down, 59 ending flat and 42 having no transactions.

Finance stocks continued to lead the bourse, slightly lifted by Bao Viet Securities (BVS) gaining 4.07 per cent, PetroVietnam Securities, 0.95 per cent, Habubank (HBB), 0.89 per cent and Kim Long Securities (KLS) up 2.04 per cent.

Asia Commercial Bank (ACB) gained back 0.41 per cent to finish on VND24,400.

KLS was the most active on HNX with more than 2.09 million shares changing hands.

Foreign investors continued to make a high volume of purchases with 5.84 million shares, accounting for 23.12 per cent of HoSE’s total volume.

On the HNX they were net buyers of 279,400 shares bought and 113,000 sold. PVX, KLS, VCG, PVS and PVI were the most commonly purchased while TDN, BVS, VND and OCH were mostly sold with some 10,000 units being traded each.