Investors end week on a high

Some observers said the positive sentiment came from the news of several foreign investment funds planning to place money in Vietnam. Local macroeconomic issues, mainly inflation and interest rates, were being controlled in a methodical manner.

Investors particularly boosted their buying in the afternoon session, after a stable rise in the morning. Stock holders reduced locked in profits. The VN-Index of Ho Chi Minh Stock Exchange (HoSE) strongly jumped 8.43 points or 1.9 per cent to end at 454.1 points.

The HNX-Index of Hanoi Stock Exchange (HNX) gained 1.46 points or 1.91 per cent to 77.57 points.

Most flows still focused on securities company shares, with observers believing that the recent market rise could improve the company business results in the first quarter.

Asia-Pacific Securities (APS), Bao Viet Securities (BVS), Au Viet Securities (AVS), PetroVietnam Securities (PSI) continued sharply jumping, up more than 6 per cent each today. Shares of major brokerages VNDirect Securities (VND) and Kim Long Securities (KLS) also rebounded after easing back yesterday.

PetroVietnam-family shares saw a rising tides. PetroVietnam-Nghe An Investment & Trading (PXA), PetroVietnam Consultancy and Engineering Corp (PVE), PetroVietnam - Nghe An Construction (PVA), PetroVietnam Premier Recreation (PVR), Petro Vietnam Power Land (PVL), Petro Vietnam Construction (PVX) massively hit the ceiling, without any offering orders remaining at the session close.

Besides, PetroVietnam Transportation Corp. (PVT), PetroVietnam-Idico Long Son Industrial Park Investment (PXL) hit the ceiling on the HoSE as well.

PetroVietnam had announced recently that the group was to issue PVN-Index measuring the listing stocks of its units.

Green and violet colours largely covered the HNX’s trading board. Some 258 stocks gained with 74 hitting the ceiling. Just 48 stocks declined and 40 were unchanged.

Investors proved exciting, boosting liquidity to 117.6 million shares worth VND1.18 trillion ($57.1 million) on the northern bourse. Habubank (HBB) outperformed the market with huge matching volume of 19.5 million units, hitting the ceiling again.

Meanwhile, low price real estate stocks largely advanced on the HoSE. Dat Xanh Real Estate Service & Constructions Corp. (DXG), Tu Liem Urban Development (NTL), International Development and Investment Corp (IDI), DIC Investment and Trading (DIC), Urban Development and Construction Corp. (UDC), Transport Engineering Construction & Business Investment JSC 584 (NTB) sharply rose more than 4 per cent each with big matching volumes.

Major real estate stocks Tan Tao Investment Industry Corp. (ITA), Investment and Trading of Real Estate (ITC) and Kinhbac City Development Share Holding Corp. (KBC) also strongly advanced.

Liquidity reached 88 million shares worth VND1.21 trillion ($58.6 million) on the HoSE. Some 194 stocks ended higher, 55 ended flat and 66 declined.