August 31: VN Index + 2.36% for day, still -7.86% for month

Vietnamese stocks closed a disappointed August with a surge as both foreign and local investors rushed to buy shares on hopes of better September, extending the gaining track to 4 days in a row.

The benchmark VN Index jumped 10.53 points or 2.36% to 455.08 on August 31. Volume soared 60.68% to 55.6 million shares traded for VND1.54 trillion. Today volume was 35.5% higher than the daily average trading volume in August.

The impressive buying appetite at higher prices today indicated that more investors jumped into the market after staying on the sidelines for a while. The cash flows were stronger and the concerns over liquidity eased.

For August, the benchmark lost 38.83 points or 7.86% with the average trading volume of 41.02 million shares a day.

There was no market driving macro news today but the expectation of some positive adjustments in the Circular 13 inspired investors to cash into equities on hopes of a rally September.

Traders said they expected credit growth to quicken in September as Vietnam is very committed to 6.5% GDP growth this year.

Other brokers remained their view that current market provided good opportunities for value investors to enter.

The market opened in the green with increasing ATO volume. The market traded cautiously early in the continuous price bidding session as the index approached 450 threshold. The market heated towards the end of the trading day and stayed firmly above 450.

Market breath was broad where gainers outpaced losers by nearly 10 to 1. As many as 95 stocks or 36.8% of stocks hit the upper daily limits of 5% while only two stocks fell to the floor of -5%.

SSI was the most active stock with 3.35 million shares traded, closing at the ceiling price of VND28,000.

REE ranked second in the list with 2.67 million shares traded, rising 1.79% to VND17,100.

ITA was in the third place with 1.73 million shares traded, adding 5% to VND18,900.

VSH and STB followed with 1.61 million shares and 1.19 million shares traded, respectively.

Today foreign players net bought VND 192.98 billion of Vietnamese shares today, the highest net buying session on the HoSE in August. They purchased 8,461,720 shares for VND 355.50 billion and sold 4,433,380 shares for VND 160.52 billion accounting for 22.95% buying value and 10.42% selling value.

On the Hanoi Stock Exchange, the HNX also rocketed with investors’ excited sentiment. The HNX index gained 3.52 points or 2.82% to 128.40. For the month, HNX index lost 24.93 points or 16.26% with average trading volume of 30.91 million shares.

Today volume and value also more than double to 45.84 million shares traded for VND1,007 billion compared with 20.25 million shares traded for VND471 billion on August 30.

The market recorded 261 gainers, 47 losers and 19 unchanged stocks including 126 ceiling gainers and 4 floor losers. On this bourse, daily trading limit is capped at 7% each side.

PVX were the most active stocks on the bourse with 9.68 million shares traded, closing up 5.12% to VND22,600.

KLS was in the second place with 5.33 million shares traded, gaining 6.2% at VND14,400.

VCG ranked third in the list with 2.28 million shares traded, closing higher at VND22,200.

Foreigners switched to be net buyers of VND19.04 billion on this smaller cap bourse after net selling for five straight days. – Stoxplus.com

Tags: vietnam stock, Vietnam stock market, Vietnam stock news