Phuong Thao
Viet Capital Securities Company said that trading on the southern bourse was choppy but the index closed almost unchanged from Wednesday as company earnings made headlines. Vingroup (VIC), which closed 1.6% higher, had 2.5 million shares traded, presumably the treasury shares, and was the most active and top contributor to the VN-Index.
Vietcombank (VCB) was the second largest contributor as it gained 0.7% from a day earlier. In the morning, the commercial bank lowered deposit rates to 5%.
Finally, Hoang Anh Gia Lai Company (HAG) announced that it successfully issued VND950 billion worth of corporate bonds with an initial coupon of 14% per annum, helping push up its stock by 2.4%. HAG was the second most actively traded stock on the southern bourse and was the third largest positive contributor to the main index.
Closing the day, the VN-Index inched up 0.04 point, or 0.01%, against the previous session to 484.47.
Liquidity on the southern bourse, Hochiminh Stock Exchange, was similar to the previous day with 35 million shares worth VND735 billion changing hands. The put-through market was moderately active with a large deal in VIC and a smaller one in TBC.
The HNX-Index traded in a narrow range to the downside for almost all day to close at 62.34, down 0.14%. Turnover on the Hanoi market hit a seven-month low of VND102 billion on a volume of 14.5 million shares.
Foreign activity remained quiet, especially on the northern bourse, Hanoi Stock Exchange, with only VND3 billion worth of matched bids. Foreign net outflows totaled VND17 billion on both bourses.
Vietcombank Securities Company said that on Thursday’s session served as the continuation of a flat trend since the end of last week. Foreign investors have contracted their trading scale recently, worsening the ongoing bearish sentiment. “Given lackluster market movements as well as low liquidity, we retain our recommendation that swing traders should maintain light stock weighting and restrict trading,” it said.
For long-term and medium-term investors, buying opportunities might come with the current flat trend given the fair price of stocks as well as the better outlook of the market in the second half of this year. Tickers of good business results and shares which have bucked the trend since early this year should be given priority, the broker added.
Đăng ký: VietNam News
