An investor follows stock movements at Hanoi-based Bao Viet Securities Company on Le Thai To street (Photo: VNA) Hanoi (VNS/VNA) -Vietnamese shares rose slightly on January 30 after falling during the morningsession, due to investors’ profit-taking attempts that hit large-cap stocks inthe brokerage, real estate and construction sectors.
The benchmark VN-Indexinched up 0.07 percent to 1,110.56 points on January 30. It had edged down 0.69percent to close at 1,109.80 points on January 29.
On the Hanoi StockExchange, the HNX-Index edged up 0.01 percent to close at 127.36 points. Thenorthern market index gained 0.42 percent to end at 127.35 points on January 29.
An average of more than413.1 million shares worth 10.7 trillion VND (469.3 million USD) were traded onthe two bourses.
The market trading condition was quite balanced, with 240 gainingstocks against 248 declining ones and 244 stocks closing unchanged.
The brokerage, real estateand construction sectors posted strong growth as the industries indexes inchedup 0.87 and 0.51 percent, respectively, vietstock.vn reported.
Many blue-chips of the securities brokerage sector advanced, ofwhich HCM City Securities Corporation (HCM) and VNDirect Securities Corporation(VND) gained 3.36 percent and 6.38 percent, respectively. Notably, Viet DragonSecurities Corporation (VDS) rose by the daily maximum rate of 7 percent set bythe HCM Stock Exchange.
Other gainers, called‘emerging’ players, included Viet Capital Securities J(VCI), up 1.58 percent,Sai Gon-Hanoi Securities (SHS), up 0.84 percent, MB Securities (MBS), up 1.25 percent.
The real estate industrywas led by Dat Xanh Real Estate Service & Construction Corporation (DXG),Development Investment Construction JSC (DIG), Sai Gon Thuong Tin Real EstateJSC (SCR), VRC Real Estate and Investment JSC (VRC) and Quoc Cuong Gia LaiJoint Stock Company (QCG), rallied by at least 6.7 percent each.
According to Viet Dragon Securities Co, it is almost earningsseason and there might be both rumours and official announcements on FY2017business results.
During this period in previous years, the market normally cameinto an accumulation phase with low liquidity. But this year had been verydifferent up until now, it said in a daily report.
"The average trading value per session in the first month ofthis year nearly doubled from January 2017. As the market is very “wild” atthis moment, earnings results could be valuable instruments for investors todecide if this is buy or sell time,” the report said.-VNA
VNA
