VN-Index recovers after three-day decline

Saturday, Jun 15, 2019 07:19

A terminal of PetroVietnam Technical Services Corporation in Phu My Town, Ba Ria-Vung Tau Province's Tan Thanh District. The company's shares fell 1.8 per cent on Friday despite increasing global oil prices. — VNA/VNS Photo Huy Hung

The VN-Index rebounded on Friday after a three-day decline thanks to the recovery of a few large-caps.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.37 per cent to close at 953.61 points.

More than 155.8 million shares were traded on the southern bourse, worth VND3.4 trillion (US$145.3 million).

Gaining stocks outnumbered decliners by 143 to 132 on the southern market while 72 remained unchanged.

The large-cap VN30-Index was up 0.23 per cent to 861.65 points, with 14 of the 30 largest stocks by market value and trading liquidity climbing.

In the morning session, buying force focused on blue-chips such as PetroVietnam Gas JSC (GAS), the Vietnam National Petroleum Group (PLX) and Vinamilk (VNM) and banking stocks such as Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG) and Techcombank (TCB).

In the afternoon session, the market receded from the morning gains due to some decliners such as Masan Group (MSN), FPT Corporation (FPT) and Mobile World Group (MWG).

Oil and gas stocks such as PetroVietnam Gas (GAS), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services (PVD), PetroVietnam Mud Drilling Corporation (PVC) and PetroVietnam Coating JSC (PVB) all lost ground despite rising world oil prices.

Global oil prices on June 13 soared by 2.2 per cent. Brent futures rose by 2.3 per cent to $61.31 per barrel, sometimes reaching $62.64 per barrel. WTI futures climbed 2.23 per cent to $52.28 per barrel.

According to BIDV Securities Company (BSC), the market recovered slightly in the last session of the week. However, liquidity was still low because investors continued to wait for supportive signals, looking for the Fed to announce its plan to lower interest rates, the meeting between Sino-American leaders at the G20 conference on trade issues and OPEC and Russia's meeting on oil production for the second half of 2019.

On the Ha Noi Stock Exchange, the HNX-Index edged down 0.03 per cent to end at 103.46 points.

More than 35.8 million shares were traded on the northern market, worth VND342 billion.

Foreign investors sold a net of VND62.47 billion on the HoSE, focusing on Thanh Thanh Cong - Bien Hoa Joint Stock Company (SBT) (VND88.12 billion), Vinamilk (VNM) (VND30.57 billion) and Vietinbank (CTG) (VND26.95 billion). They sold a net of VND1.1 billion on the HNX.

Information and technology, securities, agriculture, construction, construction materials, stock brokerages, logistics, food and beverage, and retail were among the worst-performing sectors in the trading session.

On the opposite side, insurance, banking and real estate gained.

The UPCOM Index on the Unlisted Public Company Market (UPCoM) rose 0.14 per cent to finish at 55.04 points. — VNS

Comments (0)