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Banking & Finance

Only HNX-Index gains ground

Released at: 18:45, 16/05/2017 Stock Market Watch

Only HNX-Index gains ground

VN-Index down on May 16 but still above 725 points.

by Yen Thanh

The HNX-Index was the only main index to increase on Vietnam’s stock market on May 16.

On HSX, the VN-Index lost 0.32 points (0.04 per cent) and the VN30-Index 2.31 points (0.33 per cent).

On HNX, the HNX-Index rose 0.18 points (0.19 per cent) while the HNX30-Index fell 0.12 points (0.07 per cent) and the UPCoM-Index gained 0.24 points (0.42 per cent).

Liquidity on HSX reached VND5.7 trillion ($251.3 million), 30 per cent higher than yesterday, and on HNX was VND819 billion ($36.1 million), 11 per cent higher.

The VN-Index opened at 725.34 points and fluctuated until mid-session before rising to 727.3 points, falling to 726.5 points, then recovering to close the morning at 727.5 points. In the afternoon it reached 727.7 points then fluctuated mid-session before tumbling quickly and closing the day at 725.03 points.

MSN was the only food and beverage share to rise, by 2.8 per cent, while SAB lost 1.5 per cent, BHN 1.2 per cent, SBT 0.8 per cent, VNM 0.3 per cent, and KDC 0.2 per cent.

No banking large caps increased, as BID and MBB closed at their opening price and STB fell 2.4 per cent, CTG 1.7 per cent, EIB 1.4 per cent, and VCB 0.7 per cent.

Only GAS increased among energy shares, by 0.9 per cent, while PGD and CNG lost 0.4 per cent and 0.3 per cent, respectively.

In real estate, FLC increased 2.8 per cent, VIC 1.5 per cent and KDH 0.7 per cent, as KBC fell 2.1 per cent, PDR 0.4 per cent, and NVL 0.3 per cent.

Among other large caps, ROS increased 0.1 per cent while MWG lost 1.5 per cent, BVH 0.7 per cent, and VJC 0.4 per cent.

ROS saw the highest liquidity on HSX, with VND1.5 trillion ($66.1 million), followed by FLC with VND265 billion ($11.7 million) and PLX and SCR with VND181 billion ($8 million). The largest cap, VNM, saw a poor day’s trade of VND76 billion ($3.4 million).

On HNX, ACB rose 1.7 per cent, SHB 1.5 per cent, and PVS 0.6 per cent. PVI, PHP, and VNR closed at their opening price and NTP shed 1.3 per cent, VCS 0.9 per cent, and VCG 0.6 per cent.

Foreign investors net sold on HSX by VND65 billion ($2.8 million) and on HNX by VND4.4 billion ($193,996).

After both the VN-Index and HNX-Index approached their resistance ranges of 730-735 and 92.5-93 points, early gains were erased and both ended close to their reference levels due to strong profit-locking pressure in real estate and securities in the closing minutes of the day. The range of the decline was, however, quite thin thanks to a rebound in oil and gas shares. Today’s key point was the sudden increase in liquidity, as HSX’s trading volume and value climbed 25 per cent and 31.8 per cent to 283.9 million shares and VND5.7 trillion ($251.3 million), respectively; the highest level since October 2009. The VN-Index chart saw the appearance of the bearish reversal pattern, Shooting Star. However, we are still optimistic about the market’s upward momentum in the context of impressive demand. Therefore, a buy-low-sell-high strategy should be prioritized as the VN-Index may still fluctuate within a narrow range of 720-730 points.

KIS Vietnam Securities Corporation

 

 

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