HCM City stocks rally (7/9)

[xiuchic]

Shares managed to rally on the HCM City Stock Exchange this morning, with the benchmark VN-Index adding 0.23 per cent to 394.33 points.

Losers, however, overwhelmed gainers by 96-79.

Market value improved to VND339.5 billion (US$16 million) from 22.7 million shares, of which around 44 per cent were trading shares tracked by the VN30.

The VN30 rose 0.06 per cent to 463.90 points as six of the 30 leading stocks retreated, with Kinh Do Confectionery Co (KDC) hitting its floor price. Meanwhile, 11 codes advanced and 13 others remained unchanged from yesterday's session.

On the Ha Noi Stock Exchange, the HNX-Index failed to post gains, reaching 60.08 points – another 0.4 per cent off with decliners doubling advancers.

Trading remained sluggish as only 15.3 million shares worth VND123.6 billion ($5.8 million) changed hands.

Despite the overall trend, blue chips helped the HNX30 edge up 0.12 per cent to 112.25 points.

The two exchanges will resume trading at 1pm.

[xiuchic]

Shares managed to rally on both national stock exchanges yesterday, with the VN-Index on the HCM City Stock Exchange adding 1 per cent, or 4.1 points, to close at 397.51.
Decliners, however, outnumbered advancers by 106-94.

Market value slightly decreased over Thursday's session to VND510 billion (US$24.2 million) on a volume of nearly 33.5 million shares, around 45 per cent of which was trading on shares tracked by the VN30.

Ten of these 30 leading stocks retreated, with Kinh Do Confectionery Co (KDC) hitting its floor price. Meanwhile, 14 codes advanced and 6 others stayed unchanged from the previous session.

The VN30 rose 0.5 per cent to 465.90 points.

The index company FTSE announced review on its FTSE Viet Nam Index in September. Accordingly, food processor Bourbon Tay Ninh (SBT), steelmaker Hoa Sen Group (HSG) and PetroVietnam Low Pressure Gas Distribution Co (PGD) entered the list of shares tracked by the index.

Exclusions were KDC, Pha Lai Thermal Power (PPC), Gemadept Logistic (GMD) and Phu Nhuan Jewelry (PNJ).

Adding the two stocks of HSG and SBT to the FTSE Viet Nam Index seemed to have been predetermined as foreign investors placed strong buys on them during recent sessions.
On the Ha Noi Stock Exchange, the HNX-Index rebounded to 60.39 points – an increase of 0.12 per cent. Blue chips in Ha Noi also helped the HNX30 edge up 0.73 per cent to 112.94 points.

Trading remained sluggish. Only 25.4 million shares worth VND205.7 billion ($9.7 million) changed hands. "It's worrisome that liquidity on the Ha Noi Stock Exchange continues to decline despite relatively low share prices," noted PetroVietnam Securities Co analysts.
In addition, yesterday trading was quite bleak as money largely stayed outside the market, said Hoa Binh Securities Co analyst Nguyen Thi Huong.

"On a technical basis, the rally of the VN-Index has not yet crossed over the short-term average line," she said. "Meanwhile, the HNX-Index cannot now overcome the downtrend."
However, this increase would let investors expect a new rally cycle next week, Huong added.
"If so, investors can continue to hold and buy shares."

Foreign investors again concluded yesterday as buyers on both bourses, picking a combined margin of VND42.7 billion ($2 million).