Oct 6: HNX-Index Rises Sixth Day on Growing Optimism

Stocks on the Hanoi Stock Exchange started the new week in a positive note, extending the winning run to six days and sending the market benchmark HNX-Index to a five-month high, as the investor confidence in equity assets was boosted on positive economic data.

The market sentiment was very strong as optimistic economic data boosted earnings prospects in the third quarter ended September 30, a stock analyst in Hanoi said.

Cash flows continued to be channeled into the stock market, he added. After the flowing into securities companies, the hot money was flooded into real estate companies today.

The HNX-Index, the measure of 365 stocks, added 0.61 points, or 0.67%, to end at 90.93, the highest since March 25. It rose 2% last week.

The today’s rally widened this year’s gains to 34% after making an 18% growth last year, according to statistics by FPT Securities. The HNX-Index was still 2.2% lower from the peak of the year late March.

The HNX 30 Index – the tracker of top 30 stocks calculated based on free float adjusted market capitalization – rose 1.9 points, or 1.03%, to end at 186.9 points.

The market breadth was positive on the northern exchange. Among index members, 130 stocks rose, 77 tumbled, 63 closed unmoved, and 130 were untraded.

The traded volume was down 10% from a day earlier to 75 million shares worth VND1,023 billion, down 10% from last Friday.

Sai Gon Thuong Tin Real Estate Joint Stock Company (SCR), the most active on the measure with 9.8 million shares traded, soared 4.8% to end at VND11,000.

Saigon Hanoi Bank (SHB), the second most traded stock on the gauge with 7.3 million shares changed hands, jumped 1.1% to finish at VND9,300.

FLC Joint Venture Global Investment Joint Stock Company (KLF) inched up 0.8% to settle at VND12,300 on a trade of 6 million shares – the fourth most active on the gauge.

At the close, 15 stocks were traded at the upper limit prices which are capped at 10% a day by market regulators.

DNP was the biggest gainer, adding 10% to finish at VND20,200. VTC led the downswing with a 10% drop, ending at VND4,500.