An underwriter monitors stock trades at the Hanoi Stock Exchange (Photo: VNA) Hanoi (VNA) - A huge purchaseof banking shares in the final minutes of the February 27 session on the local stockexchanges drove shares up, after a brief fall at the beginning of the session.
The benchmark VN-Index on the HCM StockExchange (HOSE) advanced slightly at 0.46 percent to close at 1,119.61 pointson February 27. It had gained 1.06 percent to settle at 1,114.53 points on theprevious day.
The HNX Index on the Hanoi Stock Exchange(HNX) edged up 0.88 percent to end at 127.29 points. The index had dropped 0.06points to end at 126.18 points on February 26.
The UPCOM Index on the Unlisted PublicCompany Market rose 0.55 percent to stand at 60.07 points. It had inched 0.31 percentto finish at 59.74 points on February 26.
More than 268.9 million shares, worth 7.6trillion VND (334 million USD), were traded on February 27.
However, the market trading condition wasruled by declining stocks, which were dominant over gainers by 364 to 294,while 801 other stocks ended flat.
Large-cap stocks also had a good tradingday as 18 of the 30 largest shares by market capitalisation advanced in theVN30 Index. They had more positive movement than the overall market, driven byVCB, MSN and MWG.
The VN30 Index was up 0.58 percent to1,106.09 points with more than 81.1 million shares exchanged, worth 4.02trillion VND.
Foreign investors were net seller of 196.50billion VND on HOSE, focusing on VJC (45.4 billion VND), DIG (20.7 billion VND)and BID (16.2 billion VND). In addition, they sold a net of 11.01 billion VND onthe HNX.
Bank stocks rallied across the board asonly Lien Viet Post Joint Stock Commercial Bank (LPB) slid and others jumpedsuch as Bank for Foreign Trade of Vietnam (VCB), rising 1.8 percent, Vietnam JointStock Commercial Bank for Industry and Trade (CTG), climbing 4.6 percent, andAsia Commercial Bank (ACB), moving up 2.4 percent.
Oil-gas stocks continued to climb,typically PetroVietnam Gas Joint Stock Corporation (GAS), PetroVietnamTechnical Services Corporation (PVS), PetroVietnam Drilling & Well ServicesCorporation (PVD) and PetroVietnam Coating JSC (PVB) thanks to the rise in oilprices.
Investors should remain cautious as sellingpressure may return in the high price range in the next few sessions, Bao Viet SecuritiesCompany (BVSC) said in its daily report.
“Large-cap stocks may continue to support thetwo indices in the next sessions. However, the market is likely to experience awide divergence with rising selling pressure in mid-cap and penny stocks,” BVSCsaid. – VNA
VNA
