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Banking & Finance

March 9: CPTPP signing gives morning session a boost

Released at: 12:29, 09/03/2018 Stock Market Watch

March 9: CPTPP signing gives morning session a boost

Source from vneconomy.vn

Stock market responds positively to signing of Comprehensive Partnership for Trans-Pacific Partnership.

by Ngoc Han

Vietnam’s stock market was quite lively during the morning session on March 9 in the wake of the signing of the Comprehensive Partnership for Trans-Pacific Partnership (CPTPP) in Santiago, Chile. Garment shares, led by TCM, saw positive growth, as did bank shares, albeit to a lesser extent.

MBS hit its ceiling at the beginning of the session then eased by 7-8 per cent. VND rose more than 2 per cent while other leading shares in recent times, such as SSI and HCM, increased only slightly.

Real estate and construction also cooled down after nearly a week of increases. VIC, NVL, and VRE rose slightly, while midcaps such as NLG, PDR, HDG, and KBC were also in positive territory.

HBC hovered around its reference price but it seemed buyers were unwilling to bid higher. ROS also remained at its reference price, on very low demand, while CTD lost more than 1 per cent.

In oil and gas, GAS increased 0.1 per cent. Among newly-listed shares, only POW and BSR gained ground.

VN30 shares provided solid support, with 18 increasing and nine falling. VJC and VIC continued to hit new peaks, while VNM rose after a period of losses.

Notably, APC again hit its floor after information was released about issuing shares to strategic shareholders, and HAG and HNG both fell.

As at 9.55am, the VN-Index had increased by 5.55 points, after being up 8 points at one stage, on relatively low liquidity of 48 million shares worth nearly VND1.45 trillion ($63.6 million). The HNX-Index increased 1.23 points on 16 million shares worth VND240 billion ($10.5 million).

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