Illustrative image (Source: VA) Hanoi (VNA) - Vietnamese sharessoared in the first trading session of the week as investor confidence remainedstrong on expectations for good earnings reports.
The benchmark VN-Index on the HCM StockExchange rose 2.39 percent to close at 1,087.42 points. It gained a total of1.1 percent last week.
The minor HNX-Index on the Hanoi StockExchange added 1.22 percent to end at 123.88 points after posting weekly growthof 1.6 percent at the end of January 19.
More than 350.9 million shares were tradedon the two local exchanges, worth nearly 8.9 trillion VND (395 million USD).
These trading figures were down 9.4 percentin volume and 6 percent in value compared to the previous week’s average dailynumbers.
Across the two local exchanges, there were251 gaining stocks, 250 declining ones and 101 stocks ending flat.
Large-cap stocks performed well: the VN30Index, which tracks the performance of the 30 largest shares by marketcapitalisation, surged 2.78 percent to 1,082.71 points with 22 stocksadvancing.
Gainers in the VN30 basket included brokerSaigon Securities Inc (SSI), Vietcombank (VCB), PetroVietnam Drilling and WellServices Co (PVD) and Bao Viet Holdings (BVH). Those stocks jumped at least 3.8percent each.
Among other large-caps that recorded stronggrowth were PetroVietnam Gas (GAS), Masan Group (MSN) and dairy producerVinamilk (VNM).
The banking industry also posted stronggrowth on Monday as the industry index gained 2.9 percent, data on vietstock.vnshowed.
The industry was led by Bank for Investmentand Development of Vietnam (BID) and VPBank (VPB), which were up 5.8 percentand 2.2 percent respectively.
The brokerage sector also had a positivetrading day, driven by MB Securities Co (MBS), HCM City Securities Corporation(HCM), VNDirect Securities Co (VND) and Saigon Securities Inc (SSI).
MBS jumped 2 percent, HCM gained 5.2 percent,VND added 3.2 percent, SHS advanced 6 percent and SSI moved up 5.2 percent.
Laggards were Vincom Retail Joint StockCompany (VRE) (2.5 percent), Saigon Thuong Tin Commercial Joint Stock Bank(STB) (2.3 percent), KIDO Group (KDC) (3.6 percent), Coteccons ConstructionJoint Stock Company (CTD) (2.4 percent) and Thanh Thanh Cong-Bien Hoa JointStock Company (SBT) (2.6 percent).
Due to a network crash at the end of thesession, the Vien Thong A JSC (ATC) sell orders were not recorded, according toBIDV Securities Company (BSC).
The shutdown of the southern stock exchangecould have made the index rise above its actual level on Monday, and thisphenomenon also stimulated all future contracts to rally significantlyfollowing the peak of the VN30 Index, BSC said in its daily report.
Therefore, the market could be hit byinvestors’ short selling on January 23, BSC forecast.
“Investors are advised to continueshort-term trading activities, preferably in short positions for short- andmedium-term contracts as the index is expected to be adjusted for a logicallevel in Tuesday’s session.” - VNA
The benchmark VN-Index on the HCM StockExchange rose 2.39 percent to close at 1,087.42 points. It gained a total of1.1 percent last week.
The minor HNX-Index on the Hanoi StockExchange added 1.22 percent to end at 123.88 points after posting weekly growthof 1.6 percent at the end of January 19.
More than 350.9 million shares were tradedon the two local exchanges, worth nearly 8.9 trillion VND (395 million USD).
These trading figures were down 9.4 percentin volume and 6 percent in value compared to the previous week’s average dailynumbers.
Across the two local exchanges, there were251 gaining stocks, 250 declining ones and 101 stocks ending flat.
Large-cap stocks performed well: the VN30Index, which tracks the performance of the 30 largest shares by marketcapitalisation, surged 2.78 percent to 1,082.71 points with 22 stocksadvancing.
Gainers in the VN30 basket included brokerSaigon Securities Inc (SSI), Vietcombank (VCB), PetroVietnam Drilling and WellServices Co (PVD) and Bao Viet Holdings (BVH). Those stocks jumped at least 3.8percent each.
Among other large-caps that recorded stronggrowth were PetroVietnam Gas (GAS), Masan Group (MSN) and dairy producerVinamilk (VNM).
The banking industry also posted stronggrowth on Monday as the industry index gained 2.9 percent, data on vietstock.vnshowed.
The industry was led by Bank for Investmentand Development of Vietnam (BID) and VPBank (VPB), which were up 5.8 percentand 2.2 percent respectively.
The brokerage sector also had a positivetrading day, driven by MB Securities Co (MBS), HCM City Securities Corporation(HCM), VNDirect Securities Co (VND) and Saigon Securities Inc (SSI).
MBS jumped 2 percent, HCM gained 5.2 percent,VND added 3.2 percent, SHS advanced 6 percent and SSI moved up 5.2 percent.
Laggards were Vincom Retail Joint StockCompany (VRE) (2.5 percent), Saigon Thuong Tin Commercial Joint Stock Bank(STB) (2.3 percent), KIDO Group (KDC) (3.6 percent), Coteccons ConstructionJoint Stock Company (CTD) (2.4 percent) and Thanh Thanh Cong-Bien Hoa JointStock Company (SBT) (2.6 percent).
Due to a network crash at the end of thesession, the Vien Thong A JSC (ATC) sell orders were not recorded, according toBIDV Securities Company (BSC).
The shutdown of the southern stock exchangecould have made the index rise above its actual level on Monday, and thisphenomenon also stimulated all future contracts to rally significantlyfollowing the peak of the VN30 Index, BSC said in its daily report.
Therefore, the market could be hit byinvestors’ short selling on January 23, BSC forecast.
“Investors are advised to continueshort-term trading activities, preferably in short positions for short- andmedium-term contracts as the index is expected to be adjusted for a logicallevel in Tuesday’s session.” - VNA
VNA
