Phuong Thao
HCMC Securities Company said that with longer trading hours from Monday and a 50-percentage-point cut in the refinancing rate, investors had a couple of things to cheer them up in the morning.
Several firms reported their second-quarter results, which also helped explain the 13% rise in volume to over 54 million shares on the exchange.
The market continued to be driven by strong gains in a handful of index heavyweights, including MSN, BVH and PVD. In addition, foreigners registered a net buying value of VND54 billion, pushing the VN-Index up 2.4 points, or 0.48%, against last Friday to close at 506.16.
Meanwhile, the Hanoi market slipped back with turnover shrinking to VND139 billion. The HNX-Index declined 0.57% and ended the day at 62.8. Foreigners were net buyers to the tune of VND5 billion worth of shares.
Vietcombank Securities Company said that the southern bourse continued to see positive signs, reflected by strong cash inflows as well as the VN-Index’s further increase at above the 500-point level.
Deposit rate cut at some banks reaffirmed ample stance of liquidity in the whole banking system, working as catalysis for investors’ disbursement. Foreign buying into blue-chips also acted as a constructive factor to the market’s rally, it said.
However, Viet Dragon Securities Company (VDSC) noticed that trading was not as positive as last Friday and the southern bourse saw corrections twice during the session. The VN-Index stayed in the green thanks to supports of some large caps such as VNM, MSN, PVD and BVH while others, especially DRC, HSG, REE, CSM, PET and PPC, experienced strong profit taking pressure.
There were no clear improvements on most other stocks on HOSE and losers still far outnumbered gainers by 125 to 81 at the end of the day. Meanwhile, trading on the Hanoi market was sluggish with the HNX-Index staying in the red for most of the session. Large-caps failed to bring about any positive effects for the northern index on Monday, VDSC commented.
The southern bourse at present enjoys some favorable factors such as high liquidity and foreign buying, but the market still needs more time to affirm its trend. Therefore, investors’ buying decisions currently depend on second-quarter results of listed firms, the broker added.
Đăng ký: VietNam News
