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Banking & Finance

Main indexes finish higher

Released at: 18:02, 18/04/2017 Stock Market Watch

Main indexes finish higher

VN-Index withstands dreadful morning to close up on April 18.

by Yen Thanh

All main indexes on Vietnam’s stock market gained ground on April 18.

On HSX, the VN-Index increased 4.1 points (0.58 per cent), the VN30-Index 6.40 points (0.96 per cent), the VNMid-Index 6.61 points (0.73 per cent), and the VNSml-Index 4.22 points (0.53 per cent).

On HNX, the HNX-Index increased 0.83 points (0.94 per cent) and the HNX30-Index 2.19 points (1.33 per cent). The UPCoM Index lost 0.06 points (0.10 per cent) and the VNALL-Index rose 8.78 points (0.86 per cent).

Liquidity on HSX reached VND3.5 trillion ($154 million), virtually the same as yesterday, and on HNX was VND578 billion ($25.4 million), 8 per cent lower.

The VN-Index opened at 710.83 points and fell to 709 points early on before fluctuating until mid-session then tumbling to its bottom of the day of 705 points. It then recovered to close the morning at 708.3 points. It edged upwards over the course of the afternoon and closed the day at 714.93 points.

In food and beverages, NSN increased 4.6 per cent, KDC 3.1 per cent, VNM 1.7 per cent, and BHN 0.5 per cent. SBT closed at its opening price while SAB lost 1 per cent.

No banking shares fell. CTG increased 1.8 per cent, VCB 1 per cent, STB 0.9 per cent, MBB 0.7 per cent, and BID 0.6 per cent, while EIB closed at its opening price.

In energy, GAS rose 2 per cent, PGD 2 per cent, and CNG 1.4 per cent.

In real estate, FLC gained 3.3 per cent, KDH 0.4 per cent, and KBC 0.3 per cent. DXG fell 1.2 per cent and NVL and VIC 0.1 per cent.

Among other large caps, ROS shed 3.1 per cent, VJC 2.1 per cent, and MWG 1.2 per cent. BVH and FPT increased 1.4 per cent and 0.7 per cent, respectively.

ROS saw the highest liquidity on HSX, with VND1.2 trillion ($52.7 million), followed by VNM with VND272 billion ($12 million), FLC with VND166 billion ($7.3 million), and HPG with VND160 billion ($7 million).

On HNX, SHB increased 2.8 per cent, ACB and PVS 1.8 per cent, PVI 1.7 per cent, NTP 0.7 per cent and VCS 0.3 per cent.

Foreign investors net bought on HSX by VND238 billion ($10.5 million) and net sold on HNX by VND31 billion ($1.4 million).

The 710-point support level held steady today. Negative sentiment was clear in the context of stronger declines, seeing the VN-Index at times approach the 705-point support level. However, contrarian action by several investors helped the market recover from the end of the morning session. The VN-Index closed at 714.93 points, up 4.1 points. Market breadth clearly improved, with 150 bullish shares and 101 bearish shares. The most important contributor on HSX today was VNM, which contributed 1.32 to the increase. Other BCs like MSN and GAS saw similar fluctuations. Sectors moving positively today included securities (SSI and HCM) and banks (CTG, BID, and VCB), while construction (ROS and HBC) and real estate (VIC and DXG) saw a correction. On HNX, the HNX-Index bounced back to 89.12 points. The strong gain in the VN-Index at the end surprised many investors. Market psychology was more positive compared to the two previous sessions and the return of capital flows at low prices saw the VN-Index stay above 710 points. However, in the current circumstances, it will be difficult for investors to be confident about increasing their portfolio. Some major global stock markets bounced back but it’s hard to forecast the VN-Index’s fluctuations, especially given how it performed this morning. Investors should protect their portfolio with a high ratio of cash and continue to wait for reliable market indicators about the VN-Index’s recovery, such as it breaking the 715-point resistance level tomorrow with improved liquidity and cash flowing among sectors.

BIDV Securities

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