Market ends week in style

Low-price speculative stocks and stocks bought-in by foreigners led the gainers.

Several real estate stocks hit the ceiling, among them Tu Liem Urban Development (NTL), Hoang Quan Consulting-Trading-Service Real Estate Corp. (HQC), Licogi 16 (LCG), Post and Telecommunications Investment and Construction (PTC), Tan Tao Investment Industry Corp. (ITA).

Major stocks in the sector like Kinh Bac City Development Share Holding Corp. (KBC), Quoc Cuong Gia Lai (QCG) also sharply jumped.

PetroVietnam-family stocks massively rose. PetroVietnam Transportation Corp. (PVT), PetroVietnam Low Pressure Gas Distribution (PGD) gained more than 2 per cent each on Ho Chi Minh Stock Exchange (HoSE), while PetroVietnam Securities Inc. (PSI), PetroVietnam Power Land (PVL), PetroVietnam-Nghe An Construction (PVA), Petro Vietnam Finance Land (PFL) jumping 4-6 per cent each on the Hanoi Stock Exchange (HNX).

Foreigners strongly supported the market today, with stocks like Vietnam Construction and Import-Export (VCG), PetroVietnam Construction (PVX) were strongly purchased at millions units. Those stocks were announced to add to exchange-traded funds’ portfolios since last week. PVX  was up 1.92 per cent while VCG was unchanged.

Those investors also turned back to net buying on HoSE, after continuously net selling. Key pillar stocks like Vietcombank (VCB), Hoang Anh Gia Lai (HAG) were strongly purchased by foreigners today. Several blue-chips like PetroVietnam Finance (PVF), Ocean Group (OGC), Song Da Urban & Industrial Zone Investment and Development (SJS) strongly surged thanks to foreigner’s purchasing power.

Advancer number strongly jumped to 176 stocks on HoSE, accounting for more than half the bourse. The benchmark VN-Index surged as high as 7.81 points or 1.84 per cent to 433.09 points.

Especially, matching value soared more than a half reaching VND1.2 trillion ($57.9 million) on HoSE. The bourse’s liquidity reached 72 million shares worth VND1.3 trillion ($62.8 million).

HNX-Index also saw a strong gain in line with the rise in the HoSE, up 0.6 points or 0.81 per cent to end at 74.84 points. Matching value significantly improved to VND422 billion ($20.4 million), boosting total liquidity to 53.9 million shares worth VND560 billion ($27.1 million).