Shares rise on Q4 expectations

Saturday, Jan 21, 2017 09:00

An investor watches stock movements on an electronic board at An Binh Securities Company. — Photo VNA/VNS Hoang Hai

Shares rebounded yesterday on the two national stock exchanges as investors started their bets on year-end earnings of companies.

On the HCM Stock Exchange, the VN-Index added 0.6 per cent to close at 686.3 points. The northern market index dropped 0.34 per cent in the last two trades.

On the Ha Noi Stock Exchange, the HNX-Index regained 0.4 per cent to end at 83.2 points, narrowing the loss of 1.3 per cent in the two previous sessions.

Overall, the market condition improved as 223 stocks rose, 190 declined and 281 remained flat.

Fifteen of total 20 sectors tracked by Vietstock Finance gained value and only five tumbled. Of which, the construction sector and construction material manufacturing sector were the biggest gainers with average gains of 1.44 per cent and 1.28 per cent.

Leading companies in these sectors on the two exchanges like FLC Group (FLC), Kinh Bac City Development (KBC), CII Bridges & Roads Investment and Vinaconex (VCG) advanced between 0.6 per cent and 7 per cent each.

These stocks were also among the top most heavily-traded shares on the two markets.

According to stock analysts at Viet Dragon Securities Co (VDS), stocks of companies that promise positive 2016 earnings could be on investors’ radars.

Following Circular 155, all listed companies have to release their financial statements within 20 days of the last day of every quarter.

Some companies started to disclose their preliminary business results for 2016, which if showed impressive performance, could provide driving momentum for the next market upturn, VDS’s analysts wrote in a market report.

However, some other securities firms maintain a neutral view on market outlook as cash will likely continue to be withdrawn from the market to meet shopping needs as the Tết (Lunar New Year) holiday draws near.

Many large-cap stocks led the market’s recovery yesterday, with 22 of the top 30 largest shares by market capitalisation and liquidity on the main bourse in HCM city climbing and only six falling.

Leading gainers included dairy giant Vinamilk (VNM), lenders BIDV (BID) and Vietinbank (CTG), PV Gas (GAS), insurer Bao Viet Holdings (BVH), FPT Corp (FPT), steelmakers Hoa Phat Group (HPG) and Hoa Sen Group (HSG).

Those companies are forecast to report high earnings prospects for 2016.

Trading volume increased slightly over Thursday to reach 112.5 million shares on the two markets but value of trades decreased 4 per cent to VND2.4 trillion (US$106.2 million).

Foreign investors were net buyers yesterday, collecting shares worth VND219 billion on the two exchanges, soaring 147 per cent compared to Thursday’s net buy value. — VNS

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