Phuong Thao
Investors follow stock prices at Bao Viet Securities Company. The local market rebounded but liquidity stayed low on Thursday - Photo: Kinh Luan
According to Viet Capital Securities Company, the exchange traded fund Van Eck Vietnam did see redemption of 150,000 shares overnight but as most global markets had a winning day, the VN-Index enjoyed a similar ending.
Liquidity was flat on the HCMC bourse despite some block deals of VNM and STB. Volume stayed unchanged at 65 million shares while value rose 2.3% from the day earlier to VND853 billion.
The spotlight of the day was Hoang Anh Gia Lai Company (HAG), which dropped 2.7% given pressure from strong selling, especially by foreigners at the beginning of the session, following a fresh Global Witness accusation against the firm. HAG was also among the rare losers in the property sector on Thursday.
On the other hand, HPG jumped 5.6% in early trade thanks to strong foreign buying, becoming the second largest contributor to the VN-Index with 0.56 point.
The Hanoi market also increased as heavyweights made slight gains or closed at reference prices. The HNX-Index inched up 0.05 point, or 0.1%, to close at 63.7 although turnover slid 12% to over VND228 billion.
Foreigners remained on the selling side with the total net selling value of VND34 billion posted on both bourses.
Viet Dragon Securities Company (VDSC) said that after being sold strongly on Wednesday, many blue-chips bounced back and drove the market up on Thursday. Matching volume decreased slightly on both exchanges and foreign investors continued to stay on the selling side.
“We see a psychological factor has played the key role on the market over the past time and we are still uncertain about the uptrend in the coming time. Thus, the possibility of a strong adjustment is still high and investors are advised to be cautious,” it said.
HAG is expected to continue to draw much attention today after Global Witness said on Thursday that the company had evaded responsibilities in fixing environmental and social consequences it had caused to rubber plantations in Cambodia and Laos.
Global Witness recommended the firm’s strategic shareholders such as Deutsche Bank and the International Finance Corporation offload HAG shares, which was believed to drag the HAG price down despite the market’s rally on Thursday, VDSC explained.
Investors follow stock prices at Bao Viet Securities Company. The local market rebounded but liquidity stayed low on Thursday
Photo: Kinh Luan
Đăng ký: VietNam News
