Stocks to Keep Rising on Investor Confidence VN Index Hits Fresh Nine
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Stock market Stocks to keep rising on investor confidence 22/May/2017 Intellasia| VNS Vietnamese stock indices are expected to remain upbeat during upcoming trading sessions thanks to strong investor confidence and a shift in investment among local stocks. On Friday, the benchmark VN Index on the HCM Stock Exchange gained 0.94 per cent to finish at 733.82 points and set a fresh nine-year high. The HNX Index on the Hanoi Stock Exchange advanced 0.78 per cent to close at 92.18 points. Compared to the previous week's closing levels, the VN Index notched up a weekly gain of 1.2 per cent and the HNX Index rose 2 per cent. Daily average trading volume fell 36 per cent week on week, with more than 173.5 million shares traded in each session, while trading value halved to VND2.87 trillion (US$127.5 million). Local stock indices are expected to continue rising this week on the return of investment flow to large- cap stocks after it had focused on speculative ones, boosting those shares over previous weeks. Last week, there was a big shift in investment from speculative stocks to large-cap stocks as investors took profits from strong gains in those speculative shares. "It's normal for investors to take profits from the speculative stocks, especially those that have made significant gains in the last one or two months," said Ngo Thế Hiển, analyst at Sai Gon-Ha Nội Securities (SHS). "A strong investment flow has boosted low-priced and speculative stocks, some of which have surged between 50 per cent and 100 per cent," Hien said. Money is flowing out from speculative stocks and returning to large-cap stocks, which will help boost shares of large-cap companies and have a combined effect on other shares in the market, according to Hiển. In its latest weekly report, SHS forecasts that the increased investment in large-cap shares will help the VN Index rise further, towards the 740 point level. The shift in investment helped shares of brokerages, banks and energy producers become the biggest gainers last week. Among the nine listed banks, Vietcombank (VCB) rallied total 1.9 per cent after the last three sessions, Bank for Investment and Development of Vietnam (BID) made a two-day gain of 3 per cent, while MBBank (MBB) made a three-day jump of 7.6 per cent. The brokerage sector was driven up by investor expectations for positive earnings among local securities firms, which benefited from high trading liquidity in the market. Most notable brokerage shares included Sai Gon Securities (SSI), HCM City Securities (HCM), Sai Gon- Hanoi Securities (SHS) and VNDirect Securities (VND). SSI surged 9.7 per cent and HCM soared nearly 13 per cent in the last three days, SHS increased by 8.7 per cent and VND rose by 3.2 per cent. Meanwhile, energy stocks such as PetroVietnam Gas (GAS) and PetroVietnam Technical Services (PVS) benefited from higher oil prices. The growth of those companies' shares had been supported by their positive earnings in the first quarter of 2017, Tran Duc Anh, analyst at Bao Viet Securities (BVS) said. That would strengthen the prospect of the stock market at the moment, Anh said, adding that a market correction remained highly possible, but the drop would not be too much. http://vietnamnews.vn/economy/376810/stocks-to-keep-rising-on-investor-confidence.html VN Index hits fresh nine-year high 22/May/2017 Intellasia| VNA Shares rose on both local exchanges on May 19, boosted by big gains for brokerage and energy companies. The benchmark VN Index on the HCM Stock Exchange gained 0.94 percent to close at 733.82 points, setting a fresh nine-year high. The HNX Index on the Hanoi Stock Exchange advanced 0.78 percent to end at 92.18 points. The northern market index bounced back from the 0.5 percent loss on May 18 The VN Index has posted a weekly gain of 1.2 percent compared to the previous trading week, and the HNX Index has gained 2 percent. More than 281.6 million shares were traded on both local bourses, worth 6.11 trillion VND (271.58 million USD). The stock market was driven up by strong gains of brokerages and energy companies, which saw their sector indices up 5.4 percent and 0.8 percent, respectively, according to vietstock.vn. Among securities companies, HCM City Securities (HCM), Saigon Securities (SSI), Saigon-Hanoi Securities (SHS) and VNDirect Securities (VND) were the strongest gainers. Of those four companies, HCM and SHS hit their daily trading limit of 6.9 percent and 9.6 percent, respectively. HCM City Securities on Friday officially erased the limit of foreign ownership in its capital, allowing foreign investors to purchase up to 100 percent of its shares. Its shares have jumped 12.4 percent in the last three sessions. Shares of Saigon-Hanoi Securities have soared nearly 12 percent since May16, after the company announced it will pay an 8 percent dividend in cash for 2016 performance and the list of beneficiary shareholders will be finalised on May 26. A three-day rally of oil prices in the Asian trading session also helped bolster investor confidence in local energy stocks. Brent crude gained 1.1 percent to trade at more than $53 a barrel, totalling a three-day increase of 2.8 percent. It has made a 9 percent increase since May 9. Among local energy stocks, PetroVietnam Gas (GAS) gained 2.2 percent, PetroVietnam Coating (PVB) added 2 percent, and PetroVietnam Technical Services (PVS) edged up 0.6 percent. Other sectors that also posted good gains included banks, agriculture firms, rubber producers and construction corporations. The main force behind the market gains on May 19 was the shift of investment flow from property developers, which have seen their share prices increase strongly recently, to large-cap companies, improving investor confidence and put the VN Index at its fresh nine-year high, BIDV Securities (BSC) said in its report. The market condition will remain positive, with the VN Index targeting the short-term peak of 740 points and liquidity increasing strongly and firmly, BSC said. http://en.vietnamplus.vn/vn-index-hits-fresh-nineyear-high/112002.vnp VN Index breaks 730-point barrier 22/May/2017 Intellasia| VN Economic Times Index closes at nine-year high on May 19. All main indexes on Vietnam's stock market gained ground on May 19, with the VN Index closing at over 730 points; its highest in over nine years. On HSX, the VN Index increased 6.83 points (0.94 per cent) and the VN30-Index 6.73 points (0.97 per cent). On HNX, the HNX-Index closed up 0.72 points (0.78 per cent), the HNX30-Index 1.82 points (1.06 per cent), and the UPCoM-Index 0.03 points (0.05 per cent). Liquidity on HSX reached VND5 trillion ($220.3 million), 11 per cent higher than yesterday, and on HNX was VND720 billion ($31.7 million), more or less the same as yesterday. The VN Index opened at 726.99 points and quickly rose to 728.7 points early on before easing to 727 points mid-session then increasing sharply to close the morning at 731.4 points. In the afternoon, it rose throughout the session and closed the day's trade at 733.82 points. Most large caps in food and beverage increased: SBT by 4 per cent, BHN 2.1 per cent, KDC 1.7 per cent, VNM 1.3 per cent, and SAB 0.1 per cent. MSN fell by 1.2 per cent. In banking, MBB rose 3.2 per cent, BID 2.4 per cent, CTG 1.4 per cent, and VCB 1.1 per cent. EIB closed at its opening price while STB lost 0.4 per cent. In energy, GAS increased 2.2 per cent, PGD closed at its opening price, and CNG shed 0.6 per cent. In real estate, QCG reached it ceiling in rising 6.8 per cent and FLC increased 3 per cent and NVL 1 per cent. KBC closed at its opening price and KDH and VIC lost 2.7 per cent and 1 per cent, respectively. Among other large caps, PLX hit its ceiling in increasing 6.9 per cent and MWG and VJC rose 0.7 per cent and 0.6 per cent, respectively. BVH closed at its opening price while ROS fell 1.7 per cent. ROS saw the highest liquidity on HSX, with VND1.4 trillion ($61.7 million), followed by PLX with VND244 billion ($10.7 million) and SSI with VND240 billion ($10.5 million). The largest cap, VNM, saw VND119 billion ($5.3 million) change hands. On HNX, PVI increased 2.1 per cent, ACB 0.8 per cent, NTP 0.7 per cent, and PVS 0.6 per cent. VCG and SHB closed at their opening price while PHP lost 2.6 per cent, VNR 0.4 per cent, and VCS 0.3 per cent. Foreign investors net bought on HSX by VND173 billion ($7.6 million) and on HNX by VND15 billion ($660,750). http://vneconomictimes.com/article/banking-finance/vn-index-breaks-730-point-barrier Selling pressure sinks VN Index 22/May/2017 Intellasia| The Saigon Times The local stock market resumed sideways movements after just one session of recovery on May 18 as sellers took the upper hand for most trading time. Meanwhile, large caps saved the main index from making a steep decline.