Oct 6: Vietnam stocks rebounds from 5 weeks low

Vietnamese stocks closed up first time in 7 days as investors hunted bargain after the benchmark hit 5 weeks low yesterday.

The benchmark VN Index gained 4.11 points, or 0.98%, to end at 421.32. Volume rose 3.8% to 39.4 million shares worth VND663.2 billion including nearly 9 million shares worth VND150.9 billion changed hands in the put-through deals. Volume continued to improve but not to high level, still caution is in place.

VN Index opened in the green with over 1.2 million shares traded. Buying interest gradually built up, boosting the index to close at the high of the day.

Market sentiment was a bit better after global markets rose on talk of bank recapitalization and on hope of easing interest rates.

However, there was some concerns presently such as exchange rate after the Central Bank has adjusted dollar prices up VND20 in two consecutive sessions to VND20,844 and dollar on the black market rose.

The central bank also introduced a package of solutions in an effort to pull down local gold premium: 1. allowing SJC and 5 selective local banks to sell gold in accounts to the public and open their international gold trading accounts as a hedge, 2. Granting selective banks to sell gold in deposit.

Back to the market, the breath today was positive, among 301 shares listed firms on HOSE, gainers outweighed losers by 197-40 and 53 stocks unchanged. As many as 11 stocks fell to the floor while 51 issues hit the ceiling, 5% each side.

Among top 10 market caps, 4 unchanged, 6 gained.

Becamex Infrastructure Development JSC. (IJC) was the most active stock with 1.6 million shares traded, down 4.3% to VND12,100.

Petrovietnam – Idico Long Son Industrial Park Investment JSC. (PXL) was in the second place with 1.3 million shares traded, closing up 3.5% to VND6,000.

Tan Tao Investment – Industry Corporation (ITA) ranked third with 1 million shares traded, closing up 4.3% to VND9,800.

Saigon Thuong Tin Commercial Joint Stock Bank or Sacombank (STB) stayed in the fourth place with 0.9 million shares traded, closing unchanged at VND14,500.

Ocean Group (OGC) was in the last in the most active list with 0.9 million shares traded, closing up 0.9% to VND12,200.

On the Hanoi Stock Exchange, the HNX closed up 1.76 points or 2.5% to close at 72.1. Trading volume rose 9.5% to 36.2million shares traded for VND368.83 billion of which 3.1 million shares worth VND30.83 billion were changed hands in put-through deals.

Market breadth was positive with 216 gainers, 51 losers and 48 flat issues and 78 untraded. Among top 10 market caps, 8 gained and 2 unchanged.

New comer FLC rose VND900 or 6.43% out of 20% trading band on debut day to VND14,900 with 1,100 shares changed hands.

VNDIRECT Securities Corporation (VND) was the most active stock with 3.8 million shares traded, closing up 3.6% to VND11,600 on average.

Kim Long Securities JSC (KLS) was in the second place with 3.3 million shares traded, closing up 2.6% at VND11,700 on average.

PetroVietnam Construction Joint Stock Corporation (PVX) ranked third in the list with 1.9 million shares traded, closing up 2.7% to VND11,400 on average.

Source StoxPlus

Tags: vietnam stock, Vietnam stock market, VNindex