Intellasia East Asia News – Return of cash flow lifts investor sentiment

The market ended mixed on Monday, with benchmark indices gaining points on the return of cash flow improving general sentiment.

The VN Index on the Ho Chi Minh Stock Exchange (HoSE) added 11.84 points, or 0.94 per cent, to 1,274.2 points. The index opened the new week on a positive note as risk asset demand was higher.

The market’s breadth was positive with more stocks increasing, while liquidity also rose over the previous session. Accordingly, matching value on HoSE jumped 15 per cent to nearly VND14 trillion (US$596.8 million), equivalent to a matching volume of 586 million shares.

The market benchmark rallied for the second straight session, boosted by the uptrend of large-cap stocks. The 30 biggest stocks tracker VN30-Index closed the trading day at 1,293.79 points, up 2.83 points, or 3.1 per cent.

Twenty-two stocks of the VN30 basket inched higher, while four fell and four stayed flat.

The banking sector dominated the bullish trend, with BIDV (BID) posting the biggest gain, up nearly 4.6 per cent. Vietinbank (CTG), Sahabank (SHB), VPBank (VPB), and HDBank (HDB) also rose sharply, with SHB hitting the maximum daily rise of 7 per cent.

Supporting the index, other stocks in manufacturing, retail and information technology (IT) industries witnessed strong performance. Of which, Mobile World Investment Corporation (MWG), FPT Corporation (FPT), Sabeco (SAB) and Masan Group (MSN) surged at least 1.2 per cent.

Analysts from Saigon-Hanoi Securities JSC (SHS) said that the market’s short-term trend remains positive, and the VN Index is likely to head toward the next resistance territory of 1,260-1,285 points.

Meanwhile, the market continues to form an accumulation zone on low valuation for a long-term trend as economic growth is maintained, providing many investment opportunities.

On the Hanoi Stock Exchange (HNX), the HNX-Index finished Monday at 303.97 points, a gain of 0.55 points, or 0.18 per cent.

During the session, nearly 81.1 million shares were traded on the northern bourse, worth over VND1.65 trillion.

On the contrary, the UPCoM-Index on the UPCoM dipped by 0.2 points, or 0.22 per cent, to 92.64 points.

Foreign investors were still net buyers on the market, with a net value of VND62.9 billion. Particularly, they net bought VND65.19 billion on HoSE and VND26.13 billion on HNX, while net sold VND28.42 billion on UPCoM.


Category: Stocks, Vietnam

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