HoSE driven ahead by foreigners

The value jumped to VND66.3 billion ($3.2 million) on the southern bourse. Foreigners just made net buying of less than VND10 billion ($480,800) on Tuesday and Wednesday’s session and even made net selling on Monday’s session.

Financial stocks including Military Bank (MBB), Bao Viet Holdings (BVH), Vietcombank (VCB) and Vietinbank (CTG), along with blue-chip Masan Group (MSN) and Kinh Do Corp. (KDC) were driven up by foreigners the most. They all hit the ceiling or nearly hit the ceiling.

Foreigners’ support helped the benchmark VN-Index gain 4.7 points or 1.23 per cent to end at 385.6 points.

The rise also positively affected large-cap stocks. Real estate tickets Hoang Anh Gia Lai (HAG), Kinhbac City Development Share Holding Corp. (KBC), Song Da Urban & Industrial Zone Investment and Development (SJS), Development Investment Construction (DIG), Tu Liem Urban Development (NTL) massively hit the ceiling or nearly hit the ceiling.

Military Bank (MBB) was active the most on HoSE with some 2.2 million shares matched. The ticket ended up 2.29 per cent to VND13,400.

However, the market in general remained quite lackluster with decliners outran advancers 116 to 88 on the southern bourse. Numerous small-cap and mid-cap real estate stocks and securities company shares were put under strong selling pressure today.

Tan Tao Investment Industry Corp. (ITA), Investment and Trading Of Real Estate (ITC), Ho Chi Minh City Infrastructure Investment (CII), Khang Dien House Trading and Investment (KDH) moved sideways while Quoc Cuong Gia Lai (QCG), Licogi16 (LCG), Dat Xanh Real Estate Service & Constructions Corp. (DXG), Thu Duc Housing Development (TDH) slumped or hit the floor.

On the Hanoi Stock Exchange, leading indicators Asia Commercial Bank (ACB), Saigon-Hanoi Bank (SHB), VNDirect Securities (VND), Kim Long Securities (KLS), PetroVietnam Construction (PVX), Sacomreal (SCR) sharply declined.

Without support from foreigners, the benchmark HNX-Index shed 0.5 points or 0.97 per cent to 51.08 points. Some 108 stocks declined compared with 60 advanced on the northern bourse.

Investors and analysts largely kept cautious on the market rise, particularly with liquidity tumbling back to low level compared with that in past one month. HoSE’s trading volume fell to 23.3 million shares worth VND364.5 billion ($17.5 million). That of HNX was as little as 22.4 million shares worth VND135.8 billion ($6.5 million).