Central Bank Support Helps Boost Shares

PetroVietnam Construction (PVX) hit the ceiling price after a prolonged slump, while other real estate shares relishing gains including Sacomreal (SCR) and a number of Song Da”s construction units. 

 

Nguyen Xuan Binh from Bao Viet Securities Co, said that although profit-seeking started to increase, and the market experiencing mixed sessions, an overall uptrend was taking place. 

 

"The reason for that may come from the rotation of cash flows from one group of stocks to another," he said. Technical indicators were positive in the short and medium terms, Binh added, while "some sessions of correction will be opportunities for investors to buy." 

 

On the Ho Chi Minh City Stock Exchange, the VN-Index added 0.5 percent to 501.08 points after November 8”s loss, while advancers more than tripled losers in the session. Trading value swelled to over 1 trillion VND (47.1 million USD) as 93.3 million shares changed hands. 

 

Blue chips tracked by the VN30 also performed well. Among the 30 shares, only commercial baker Kinh Do (KDC) and food processor Bourbon Tay Ninh (SBT) retreated, while over two-thirds of the stocks advanced. The VN30 gained 0.46 percent, finishing the session at 559.32 points. 

 

On the Hanoi Stock Exchange, the benchmark HNX-Index rose 1.2 percent to reach 64.06 points. Advancers outstripped decliners by 146-62. 

 

The value of trades increased 18.7 percent compared to November 8, totalling 328.6 billion VND (15.5 million USD), while trading volume fetched more than 44.8 million shares. The HNX30, composed of the bourse”s top 30 shares in terms of capitalisation and liquidity, also climbed 1.87 percent to 121.36 points. 

 

Foreign investors narrowed their net buying value in Ho Chi Minh City by almost 90 percent to just 19.2 billion VND (905,600 USD) while they were net sellers in Hanoi by a margin of 2.25 billion VND (106,100 USD).