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Banking & Finance

March 5: Positive signs in morning session

Released at: 16:14, 05/03/2018 Stock Market Watch

March 5: Positive signs in morning session

Blue-chips perform strongly in session as steel shares lose ground.

by My Van

Vietnam’s stock market saw a positive first morning of the week on March 5, with blue-chips such as VIC, VRE, BVH, FPT, PNJ, MSN, VJC, BID, CTG, VCB, ACB and VPB leading the way. VJC rose VND7,000 ($0.3) to VND209,000 ($9.17); its highest point since listing.

Real estate and construction shares were also notable, with gainers including DXG, DIG, FCN, NLG, VIC, CTD, TDC, and VNE.

Among the steel group, HPG, HSG, and NKG shares fell despite analysis that the US imposing tariffs on imported steel would not overly affect Vietnamese enterprises.

Selling pressure increased at the end of the morning session, causing the VN-Index to lose earlier gains. The VN-Index increased just 4.16 points (0.37 per cent) in the session, to 1,125.37 points, while the UPCoM-Index gained 0.6 points (0.99 per cent) to 60.77 points and the HNX-Index fell 0.36 points (0.28 per cent) to 127.89 points.

Market liquidity was quite high, with 185 million shares worth VND5.8 trillion ($254.7 million). 

Foreign investors were net sellers in the morning, by VND200 billion ($8.7 million), primarily in stocks such as HPG, VCB, and GMD.

Blue-chips BVH, FPT, GAS, MSN, VNM, VJC, PNJ, VIC and VRE saw rising momentum, while steel stocks such as HPG, HSG, and NKG were sold strongly and fell.

Real estate and construction shares attracted positive cash flows with many gainers: CTD, HBC, DIG, DXG, FCN, SCR, HUT, SJS and NLG.

Bank shares, after strong rallies, came under pressure from profit taking, with BID, CTG, and VCB all falling. Notable gains were MBB, VPB, and VIB.

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