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Foreign buys lift local markets

Saturday, May 17, 2014
Consistent buying by foreign investors in the past few days has helped calm domestic investors and encouraged them to put money into stocks, lifting indices on both national stock exchanges yesterday.

Traders also seemed less spooked by information on the current East Sea dispute between Viet Nam and China, and showed clear signs of bargain hunting.

An investor at Bao Viet Securities Co in Ha Noi. Consistent buying by foreign investors in the past few days helped calm domestic investors and encouraged them to put money into stocks, lifting indices on both national stock exchanges yesterday. 

On the HCM Stock Exchange, the VN-Index added 5.44 points, or 1.04 per cent, to close the session at 529.49 points.

With 24 shares gaining, the VN30 tracking the top 30 shares by market value and liquidity was up 1.11 per cent to end at 581.95 points.

Overall market trading was positive with 184 shares climbing, 54 falling and 63 closing flat.

Investors poured money into real estate and securities shares, pushing their prices to the ceiling. The biggest gainers were Saigon Securities Inc (SSI), HCM Securities Co (HCM), Tan Tao Investment Industry Corp (ITA), Hoang Quan Consulting Trading Service Real Estate Corp (HQC), FLC Group (FLC), Becamex Infrastructure Development Co (IJC) and Kinh Bac City Development Holding (KBC).

Total market volume and value decreased by 40 per cent, however, totaling nearly 84 million shares and fund certificates, worth VND1.26 trillion (US$59.7 million).

FLC Group continued to be the most active code with 7.8 million shares traded, soaring 6.3 per cent to close at VND8,400 a share.

On the Ha Noi Stock Exchange, the HNX-Index jumped 2.28 per cent to end yesterday at 72.31 points while the HNX30 also climbed 3.36 per cent to stand at 140.97 points.

The market was optimistic as gainers outnumbered losers by 152-61, while 162 closed flat.

Overall trading was sluggish as both market volume and value declined 50 per cent from the previous session, totaling 48 million shares worth VND386.5 billion ($18.3 million).

PetroVietnam Construction Corp (PVS) was again the most active here on trades of 6 million shares being traded at VND4,200 a share.

Foreign investors continued their buys yesterday, raising their net buy value by another VND170 billion ($8 million) worth of shares on the two exchanges.
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