Vietnamese stocks rise again

Shares rose further on both local markets on November 15 as investors looked for opportunities in other stocks rather than large-caps.


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An underwriter monitors stock trades at the H​anoi Securities Trading Centre


The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged up 0.19 percent to close at 882.59 points. It recovered after having dipped as much as 0.5 percent during the morning session.

The southern market index has extended its rally for a ninth straight day, growing a total of nearly 6 percent.

The HNX-Index on the Hanoi Stock Exchange gained 0.39 percent to end at 107.48 points. The northern market index has increased by 2.5 percent in the last six sessions.

Nearly 237 million shares were traded on the two exchanges, worth 7.18 trillion VND (319 million USD).

The trading figures declined by 11 percent in volume and 26 percent in value compared to November 14.

Across the two local exchanges, gaining stocks outnumbered losers by 262 to 188 while 108 ended flat.

Foreign investors remained net buyers, posting net buy value of 152 billion VND, 23.6 percent below the previous session.

Pharmaceutical shares were the best performers on November 15 as the sector was driven up by popular brands such as Domesco Medical Import-Export Corp (DMC), Ha Tay Pharmaceutical JSC (DHT) and DHG Pharmaceutical JSC (DHG).

Plastic producers also performed well on the announcement of the State Capital Investment Corporation (SCIC) that it would sell parts of the State’s capital in Binh Minh Plastic Co (BMP) and Tien Phong Plastic Co (NTP) in 2017.

Other industries that also posted good growth rates included retail, rubber production and processing, construction and building materials and real estate.

On the opposite side, some large-cap stocks were hit by strong profit-taking such as the largest retailer Vincom Retail (VRE), Bank for Investment and Development of Vietnam (BID), Vietcombank (VCB) and PetroVietnam Gas (GAS).

Among those stocks, VRE had gained 16 percent in seven sessions after debuting on November 6; BID had moved up 3.4 percent in three days; VCB and GAS had made two-day gains of 1.6 percent and 4.1 percent.

Sai Gon-Hanoi Securities (SHS) said in its daily report that cash flow was spreading among shares on the market instead of focusing on large-caps, giving investors better opportunities to earn.

However, as the benchmark index has climbed and remained above the 880-point level for the last two sessions, profit-taking will increase and put the market in a short-term correction soon, SHS said.-VNA

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