Tiếng Việt
普通话
With 202 stocks gaining and 152 others losing, the benchmark VN-Index rose a fractional 0.83 point, or 0.09%, against the day earlier to close at 928.76. Trade remained low with value totaling VND3.5 trillion, including VND987 billion from block deals.
Nearly 20 speculative stocks shot up to their daily ceiling prices. Mining firm AMD was the most actively traded stock on the HCMC market with 7.8 million shares changing hands. ITA, an industrial zone operator, closed at the upper limit of VND2,330 with matching volume of 7.5 million shares.
Having fallen into negative territory in the morning, construction firm ROS soared to its daily ceiling price of VND8,500 with over six million shares traded. HAI, an agricultural chemical producer, also hit its ceiling of VND27,800 with 5.7 million shares transacted.
Meanwhile, property group FLC advanced 2.7% at VND4,120 and ranked second by liquidity with 7.7 million shares changing hands. DLG, a construction and property group, soared 5.1% at VND2,040 with matching volume of 5.9 million shares.
On the Hanoi Stock Exchange, key stocks lost steam, with the HNX-Index sliding 0.78 point, or 0.7%, at 109.3. Trade tumbled given the lack of large block deals, with volume and value shrinking 30.5% and 57.8% versus the previous day at 30.7 million shares worth VND366.6 billion.
Lender ACB, the key market driver on Tuesday, fell over 1.1% at VND26,300 with matching volume of 5.1 million shares. SHB, another bank stock, dipped 4.1% to close at the intraday low of VND7,000, although it led the northern bourse by liquidity with 6.8 million shares traded.
According to a report by SSI Research, if the novel coronavirus, officially named Covid-19, is contained in February, the market might regain strength.
In previous years, the beginning of the year was always a favorable period for the Vietnamese stock market, creating a push for the following months. This year, since there is none of this motivation, the stock market would need more time to accumulate.
“With a fallout from the coronavirus epidemic, the quietness in the first quarter may run into the second quarter or even the second half of the year if no new developments help change the status quo,” SSI Research said.