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Banking & Finance

VN-Index climbs to 715 points

Released at: 19:02, 20/03/2017 Stock Market Watch

VN-Index climbs to 715 points

All indexes close higher on March 20.

by Duy Manh

All main indexes on Vietnam’s stock market closed higher on March 20.

On HSX, the VN-Index increased 4.53 points (0.64 per cent), the VN30-Index 7.67 points (1.15 per cent), the VNMid-Index 7.35 points (0.81 per cent), and the VNSml-Index 6.69 points (0.82 per cent).

On HNX, the HNX-Index rose 0.65 points (0.74 per cent), the HNX30-Index 1.35 points (0.84 per cent), the UPCoM-Index 0.04 points (0.06 per cent), and the VNALL-Index 9.66 points (0.94 per cent).

HSX saw a 162 point increase followed by an 89 point decrease while HNX saw a 127 point increase followed by a 126 point decrease.

Liquidity on HSX reached VND3.4 trillion ($149.2 million), 20 per cent lower than last Friday, and on HNX was VND586 billion ($25.7 million), 30 per cent lower.

The VN-Index opened at 710.54 points and increased until the middle of the morning session, when it fluctuated briefly then rose again to close at 715.3 points. In the afternoon it increased sharply, reaching its peak of the day of 717.4 points mid-session before easing to close at 715.07 points

In food and beverages, BHN and VNM lost 0.8 and 0.1 per cent, SBT closed at its opening price, and MSN increased 4.1 per cent, KDC 3.2 per cent, and SAB 0.5 per cent.

All large caps in banking closed higher: EIB by 4.6 per cent, MBB 3.8 per cent, STB 2.4 per cent, VCB 1.5 per cent, CTG 1.4 per cent, and BID 0.3 per cent.

In energy, CNG and GAS fell 1.2 per cent and 0.4 per cent, respectively, while PGD increased 1 per cent.

In real estate, VIC lost 1.1 per cent and KBC closed at its opening price while DXG rose 2.1 per cent, NVL 1.8 per cent, FLC 0.8 per cent, and KDH 0.6 per cent.

Among other large caps on HSX, VJC was back in favor, increasing 6.9 per cent, BVH 3.4 per cent, and MWG 0.1 per cent, while ROS lost 5.4 per cent.

ROS saw the highest liquidity, with VND886 billion ($38.9 million), followed by CII with VND105 billion ($4.6 million) and up 2.3 per cent in price, and VNM with VND97 billion ($4.6 million).

On HNX, ACB increased 2.1 per cent, SHB 2 per cent, VCS 1.9 per cent and PVS and VCG 0.6 per cent. PHP and HUT closed at their opening price, while PVI and NTP shed 1.6 per cent and 0.1 per cent, respectively.

Foreign investors net bought on HSX by VND144 billion ($6.3 million) and net sold on HNX by VND284 million ($12,460).

Following a week of volatility, the VN-Index experienced a better-than-expected rebound and fought against the previous bearish reversal signals thanks to improved and widespread liquidity. Seven out of ten groups, in particular finance, steel, and sugar, ended in the green. Notably, 26 out of 30 stocks in the VN30 group rose and led the market. Regarding technical indicators, we remain cautious about the VN-Index’s upcoming movements as it is close to the strong resistance range of 715 - 717 points in the context of overall liquidity being below the 20-day average. A buy-low-sell-high strategy with appropriate disbursement is suitable for the current situation. We have not considered a breakout this week due to a lack of external and internal support factors.

KIS Vietnam Securities Corporation

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