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Shares may extend gains during pre-Tet period

by bizhub.vn

Workers at FPT Corporation (FPT). Information technology stocks rose the most last week, mainly thanks to the push from FPT stocks, increasing 16.3 per cent. — Photo courtesy of FPT

The Vietnamese stock market may continue to advance during the two last trading days before the Tet (Lunar New Year) holiday but cash poured into the market is believed to decline and there might be a differentiation between flows.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 1.32 per cent to end Friday at 1,126.91 points.

It had climbed 6.65 per cent last week.

An average of 598.7 million shares was traded on the southern exchange during each session last week, worth VND13.5 trillion (US$590.2 million).

“The market is expected to continue its advance in the next two trading days. After overcoming the resistance zone around 1115-1118 points, VN-Index is very likely to head towards a strong resistance zone around 1180-1200 points in the short-run,” said Bao Viet Securities Co.

“The capital flow into the markets is expected to weaken slightly as the investors usually refrain from trading when Lunar New Year Holidays are approaching.

“As a result, there might be a divergence of capital flow next week,” it said.

The company said investors should maintain equity exposure at around 50 per cent to 70 per cent of total portfolio value.

“Investors holding a high proportion of cash may considerably increase the size of the positions when the market enters correction phases.

“For the investors with large equity proportions and are using margin, they would consider utilising the days the market rises sharply to reduce the equity exposure to a safer targeted level of exposure,” it said.

According to MB Securities Joint Stock Company (MBS), the stock market grew last week following the same trend with other markets around the world.

“Domestic investors still traded positively and there were few signs of cautiousness even with Lunar New Year approaching. Market breadth was quite positive in most stock groups, showing that the market’s uptrend will continue in the coming sessions” said MBS.

“The recent recovery momentum showed that the market was claiming what has been lost since the end of January when the market failed to surpass 1,200 points.

“Although it is probably likely that the market would go forward, it will face challenges at 1,170 points, which may be an opportunity for the late money flow,” the company said.

According to Viet Dragon Securities Co, although the market was shaky during Friday, selling pressure was not significant.

“Therefore, the market got over the short-term profit-taking pressure with quite positive movements at the end of the session. It is expected that the market will continue to recover in the near future.

“Investors can rely on the current recovery but avoid using leverage to minimise unexpected risks when the market enters the Lunar New Year holiday,” Viet Dragon Co said.

Information technology stocks rose the most last week, mainly thanks to the push from pillars such as FPT Corporation (FPT), increasing 16.3 per cent, CMC Corporation (CMG) up 4 per cent.

It was followed by banking group, with gainers in the industry being Bank for Investment and Development of Viet Nam (BID), up 4.8 per cent, Military Bank (MBB), gaining 5.5 per cent, Asia Commercial Bank (ACB), rising by 6.3 per cent, Vietcombank (VCB) increasing by 7.5 per cent, Saigon-Hanoi Bank (SHB), increasing by 10.3 per cent, Techcombank (TCB), up 13.4 per cent, Vietinbank (CTG), going up 17.4 per cent and VPbank (VPB), gaining 23.3 per cent.

Oil and gas group also performed well with notable stocks such as Viet Nam National Petroleum Group (PLX), rising 6.5 per cent, PetroVietnam Technical Services Corporation (PVS), rising 10.8 per cent, PetroVietnam Drilling and Well Services Co (PVD), up 12.7 per cent and Binh Son Refining and Petrochemical Company (BSR) up 14.6 per cent. — VNS

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Local and foreign investors flee the market before Tet holiday

by bizhub.vn

Customers execute transactions in a Vietcombank transaction office. The bank’s share price plunged nearly 6 per cent today. — Photo courtesy of Vietcombank

Viet Nam’s stock market finished low on Monday before halting for Tet holidays.

The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) posted a loss of nearly 4 per cent, equivalent to 43.73 points, to end Monday at 1,083.18 points, sliding away from the 1,100 points level.

This marked the biggest intra-day loss for the index since its historic loss of over 73 points at the end of January.

The move was opposite to expectations from analysts who predicted the market would continue last week’s advance in the last two trading day before the holiday.

The index climbed 6.65 per cent last week. The market’s growth last week was following the trend in other markets around the world, MB Securities JSC said in its daily report.

On the southern market, 385 stocks declined with 18 stocks hitting the maximum daily loss, while 69 stocks increased. And 24 stocks ended flat. Local investors poured nearly VND13.8 trillion in the market with a trading volume of nearly 590 million shares.

The market was pressured from losses in big stocks.

Most large-cap stocks posted poor performance on Monday. The VN30-Index decreased by 3.78 per cent, equivalent to 42.91 points, to 1,092.59 points. Twenty-seven of 30 large-cap basket fell with one stock losing 7 per cent, while only three stocks gained.

Hoang Huy Investment Financial Services JSC was the one recording the maximum intra-day loss, down 6.87 per cent to VND21,000.

All sectors including banking, securities, real estate, construction, logistics, production, retail, IT and utilities fell sharply with many big stocks losing more than 3 per cent.

Top five stocks influencing the market’s trend were Vingroup JSC (VIC), down 6.05 per cent, Vietcombank (VCB), down 5.9 per cent, Vinhome JSC (VHM), down 4.63 per cent, Viet Nam Dairy Products JSC (VNM), down 3.92 per cent, and JSC Bank For Investment And Development of Viet Nam (BID), down 4.07 per cent.

On the Ha Noi Stock Exchange (HXN), the northern market benchmark HXN-Index declined by 1.38 per cent to 220.76 points, while the HNX30-Index lost nearly 3 per cent to 329.33 points.

More than 101 million shares were traded on the bourse, worth VND1.57 trillion.

Foreign investors were also net sellers on the southern bourse, with a net value of over VND1.4 trillion. Meanwhile, they bought a net value of VND21.25 billion on the northern market. — VNS

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Shares to go up after Lunar New Year

by bizhub.vn

Investors at the trading floor of MB Securities Co (MBS) in Ha Noi. Confidence in the Government’s anti-pandemic measures and expectations of a stronger economic recovery will give a boost to the market. — VNA/VNS Photo Tran Viet

The Vietnamese stock market is forecast to prosper after the Tet (Lunar New Year) holiday in accordance with the strong growth of stock markets around the world, analysts said.

The benchmark VN-Index on the Ho Chi Minh Stock market ended the last trading session before the Lunar New Year (February 10) up 2.93 per cent, closing at 1,114.93 points.

An average of 519.8 million shares were traded on the southern market on February 10, worth VND7.3 trillion (US$317.8 million)

“The VN-Index increased gradually from the beginning of the morning session to the end of the afternoon session and was now back above the threshold of 1,100. Foreign investors were net sellers on both HSX and HNX. Besides, market breadth turned to a positive status with lower liquidity compared to the previous session,” said BIDV Securities Co.

“According to our assessment, the VN-Index may return to challenge its historic peak after the Lunar New Year,” the company said.

Nguyen Duy Dinh, a senior customer care specialist at MB Securities Company (MBS), said that the cycle of many years shows that two weeks after the Lunar New Year, the market usually increases mainly thanks to the financial-banking stock group.

This year was a bit different because of the COVID-19 pandemic, he said, adding that the decrease in liquidity before the Lunar New Year was reasonable.

“Investors want to withdraw money before Tet, and the COVID-19 pandemic has slowed down the market in terms of transactions,” he said.

In fact, the rate of increase of the VN-Index in the first five sessions after the Tet holiday during the past 20 years accounts for about 65 per cent, higher than the rate of decline.

“For the last 20 years, the rate of the scenario in which VN-Index rising in the first five sessions after the Tet accounts for about 65 per cent, higher than the rate of decline,” he said.

“COVID-19 movements are not the main factors affecting the market because investors have experienced this frequently in 2020. Amid the pandemic, the market still recorded significant growth despite some sessions of strong declines,” said Phan Dung Khanh, Maybank KimEng Vietnam Securities Company’s Director of Investment Advisory.

Khanh said that in the context of strong net-selling by foreign investors, institutional investors had not made significant changes to support the market. It was individual investors who were the main supporters of the market.

In January this year, the number of new accounts opened by individual investors reached the highest level in history. However, in February, the liquidity decreased continuously, showing that the cash flow of investors F0 could not be maintained, which can worry investors, he said.

Although the market is worrying, according to Khanh, there are still positive signs. Moreover, the news of social distancing in the whole of Hai Duong Province for 15 days and Ha Noi’s closing of street restaurants and coffee shops from February 16, there are some investors who think that this may stimulate online transactions, like in April 2020.

SSI Securities Joint Stock Company (SSI) said that the 1,075 point area was a good support zone for the VN-Index and the index was likely to continue moving up to the resistance zone of 1,175 – 1,200 points.

“However, the trading volume needs to improve again for the index to officially return to the uptrend,” it said.

Yuanta Securities Vietnam Co said the market was likely to maintain its momentum in the early sessions of the Lunar New Year.

“At the same time, the market will enter an accumulation period, thus there will be differentiation between sectors with low liquidity,” it said.

The company recommended short-term investors to continue taking advantage of corrections to increase their stock exposure and open new buying positions. — VNS

Shares gain but investors remain cautious

by bizhub.vn

Customers perform transactions at a branch of VPBank (VPB) in Ha Noi. Shares of VPBank (VPB) rose 0.9 per cent on Monday. — Photo courtesy of VPB

Shares made gains on Monday but investors remained cautious on decreased liquidity and the return of foreign net-selling.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.13 per cent to end the session at 1,175.04 points.

More than 630 million shares were traded on the southern bourse, worth VND15.3 trillion (US$663.5 million).

Market breadth was negative with 199 gainers and 231 losers.

“VN-Index continues to retest the short-term resistance at 1,180 points. Liquidity decreased slightly, market amplitude narrowed and market breadth was negative, indicating cautious trading sentiment among investors,” said BIDV Securities Co.

“Foreigners turned back to be net sellers on the HSX and net buyers on the HNX. The VN-Index is likely to move in the 1,160-1,200 point range this week,” the firm said.

Foreign investors net sold VND613.42 billion on HOSE, including dairy firm Vinamilk (VNM) (VND178.2 billion), steelmaker Hoa Phat Group (HPG) (VND110.1 billion), and SSI Securities Incorporation (SSI) (VND42.5 billion). They were net buyers on the HNX to the tune of VND11.0 billion.

Towards the end of the session, the VN-Index’s gain was significantly reduced as banking stocks such as Techcombank (TCB), Military Bank (MBB), Vietinbank (CTG) and Sacombank (STB) extended their losses.

Among them, Sacombank (STB) decreased by 0.5 per cent to VND18,600 per share and Techcombank (TCB) lost 0.3 per cent to VND38,600 per share.

Securities stocks also reported losses such as SSI Securities Inc (SSI) decreased 0.9 per cent, VNDirect (VND) down by 0.9 per cent and Viet Capital Inc (VCI) declined 1.4 per cent.

A number of other blue-chips also performed poorly such as Phu Nhuan Jewelry (PNJ), Sai Gon-Ha Noi Bank (SHB), Vincom Retail (VRE), Sabeco (SAB) and Petro Vietnam Gas JSC (GAS).

But some still attracted cash flow and supported the indices such as Kido Group (KDC), Vinhomes (VHM), Vingroup (VIC) and VPBank (VPB).

The large-cap tracker VN30-Index was unchanged at 1,180.55 points.

Twenty of the 30 large-cap stocks in the VN30 basket decreased while eight made gains.

On the Ha Noi Stock Exchange, the HNX-Index rose 2.94 per cent to end Monday at 237.97 points.

Nearly 107 million shares were traded on the northern market, worth VND1.8 trillion. — VNS

Market edges higher, fertiliser stocks surge

by bizhub.vn

Workers unload products at one of Lam Thao Fertilizers And Chemicals’ warehouses. The company shares increased by 10 per cent on Wednesday. — Photo supelamthao.vn

Viet Nam’s stock market ended higher on Wednesday as the VN-Index bounced back in the afternoon session.

The VN-Index on the Ho Chi Minh Stock Exchange (HoSE) reversed course to edge higher in Wednesday’s trade after dropping 0.38 per cent in the morning session. The index rose slightly 0.03 per cent to 1,186.95 points.

The market breadth turned positive at the end of the session with 270 stock rising, while 168 stocks decreased. And 64 stocks stayed unchanged.

While a total of over 628.77 million shared were traded today on the southern market, worth VND15.15 trillion, an overload occurred again on HoSE in the afternoon session.

In a daily report, Bao Viet Securities Co. said that the index might face corrections earlier in the sessions before recovering at the end of the session. And the market needs more time to accumulate to break over 1,200 points level in the near future.

The market received support from the containment of COVID-19 outbreaks and the upward trends of global markets, the company added.

However, strong selling pressure still weighed on the market, with many big stocks falling.

The VN30-Index, tracking the 30 biggest stocks on HoSE, gained 0.07 per cent to finish at 1,195.6 points. The index lost 0.37 per cent in the morning session. Eleven of the 30 large-cap stocks in the VN30 basket rose, while 15 stocks dropped.

Stocks from real estate and banking sectors still influenced the market’s trend.

Top five stocks contributing to the gain of the market were Investment And Industrial Development Corporation (BCM) up 5.35 per cent, Vietinbank (CTG) up 1.58 per cent, VPBank (VPB) up 2.09 per cent, No Va Land Investment Group Corporation (NVL) up 2.65 per cent and Vincom Retail JSC (VRE) up 2.31 per cent.

Fertiliser stocks also recorded big gains today with DAP – VINACHEM JSC (DDV) up 14.75 per cent, Lam Thao Fertilizers And Chemicals JSC (LAS) up 10 per cent, Petro Viet Nam Ca Mau Fertilizer JSC (DCM) up 6.69 per cent and Duc Giang Chemicals Group JSC (DGC) up 6.98 per cent.

Meanwhile, Vingroup JSC (VIC), Vinhomes JSC (VHM) and Vietcombank (VCB) extended their losses and limited the index’s gain.

On the Ha Noi Stock Exchange (HNX), the HNX-Index posted an increase of 2.48 per cent to end the trading day at 254.1 points. The HNX30-Index recovered from earlier losses, up 0.56 per cent to 375.61 points.

Domestic investors poured nearly VND2 trillion into the northern bourse on Wednesday, equivalent to over 131.1 million shares.

In general, the market’s liquidity was high with a total 821.9 million shared traded, including trading volume on UPCOM, worth nearly VND18.2 trillion.

Meanwhile, foreign investors were still net sellers on HoSE and HNX, with a net value of VND471.95 billion on the southern bourse and a net sell value of VND7.6 billion on the northern market. — VNS

Market reopens on positive note

by bizhub.vn

Shares rose on Wednesday morning after a week-long holiday with all sectors posting positive performance.

On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index increased 2.5 per cent to end the morning session at 1.142,78 points. The market breadth was positive with 366 stocks climbing, while 70 stocks declined.

The main driving force for the gain was an increase in the large-cap tracker VN30-Index. Accordingly, the VN30-Index rose 2.76 per cent to 1.160,72 points. Twenty-eight of 30 biggest stocks increased in the morning trading session, of which one stock hit the daily gain of 7 per cent, while only two stocks decreased.

The stock witnessing the biggest gain this morning was Vincom Retail JSC (VRE). The stock’s price gained 6.18 per cent to VND33.500.

During the session, investors poured around VND8.2 trillion to the market, equivalent to nearly 336.8 million shares were traded in the southern bourse.

Top three stocks which had a huge impact on the market this morning were PetroVietnam Gas JSC (GAS), up 6.52 per cent, Techcombank (TCB), up 5.42 per cent, and Vietnam Rubber Group JSC (GVR), up 6.86 per cent.

On the Ha Noi Stock Exchange, the HNX-Index also gained nearly 2 per cent to 229.24 points. The HNX30-Index climbed by 2.74 per cent to 346.12 points. VNS