Shares extended gains on the two national stock exchanges as rising capital inflow was poured into the banking and energy sectors on high Q4 earnings expectations and positive development on the global oil market (Photo: VNA) Hanoi (VNA) - Shares extendedgains on the two national stock exchanges as rising capital inflow waspoured into the banking and energy sectors on high Q4 earnings expectations andpositive development on the global oil market.
On the HCM Stock Exchange, the VN-Indexadded 1.4 percent to close on December 4 at 1,019.75 points. This was the thirdstraight gaining session this year with total growth of 3.6 percent.
Large-cap stocks remained the marketengine. Twenty four of the top 30 largest shares by market value and liquidityon the HCM City’s exchange gained value and only four lost.
Banks led the gainers when six of sevenlisted banks increased. VPBank (VPB) expanded for six sessions in a row, adding3.6 percent in value to 44,900 VND (1.97 USD) a share. It has increased nearly13 percent in the last six trades.
The Big Three (three largest banks bymarket value) – Vietcombank (VCB), Vietinbank (CTG) and BIDV (BID) – rose 0.9 percent,3.6 percent and 2.8 percent, respectively.
The latest data of the National FinancialSupervisory Commission revealed that bad debts in the whole financial systemdecreased substantially in 2017, down from 11.9 percent in early 2017 to 9.5 percentby year-end, concentrating in small and weak banks.
Apart from banks, oil and gas stocks alsoattracted heavy investment thanks to rising global oil prices.
Major companies including PV Gas (GAS),PetroVietnam Drilling and Well Services (PVD) and Petrolimex (PLX) ralliedbetween 2.5-4.7 percent each.
Ending the January 3 trade, the US lightcrude oil (West Texas Intermediate) increased 2.1 percent to 61.63 USD perbarrel for February contracts while Brent crude edged up 1.9 percent to 67.84 USDper barrel.
Overall market condition was positive with198 stocks rising, 103 falling and 48 closing flat. Nearly 153 million sharesworth 6.2 trillion VND (272 million USD) were traded in HCM City’s market.
According to Quang Vo, an analyst at VietDragon Securities Co, total trading value continuing to be more than 5 trillionVND in the last three sessions without impact from any special events signalledhigh investor expectation for another fruitful year for the stock market.
Meanwhile, analysts at Bao Viet SecuritiesCo (BVSC) predict the VN-Index will likely advance in the next sessions, drivenby strong capital inflow in large caps, especially in those with good Q4 earningsprospects.
“However, profit-taking selling pressurewill also rise following the rally which will lead to wide divergence in themarket,” Tran Duc Anh, a BVSC’s analyst, wrote in a report on January 4.
On the Hanoi Stock Exchange, HNX-Index edgedup 0.26 percent to end at 119.50 points, lifting the three-day gains to over2.2 percent. - VNA
On the HCM Stock Exchange, the VN-Indexadded 1.4 percent to close on December 4 at 1,019.75 points. This was the thirdstraight gaining session this year with total growth of 3.6 percent.
Large-cap stocks remained the marketengine. Twenty four of the top 30 largest shares by market value and liquidityon the HCM City’s exchange gained value and only four lost.
Banks led the gainers when six of sevenlisted banks increased. VPBank (VPB) expanded for six sessions in a row, adding3.6 percent in value to 44,900 VND (1.97 USD) a share. It has increased nearly13 percent in the last six trades.
The Big Three (three largest banks bymarket value) – Vietcombank (VCB), Vietinbank (CTG) and BIDV (BID) – rose 0.9 percent,3.6 percent and 2.8 percent, respectively.
The latest data of the National FinancialSupervisory Commission revealed that bad debts in the whole financial systemdecreased substantially in 2017, down from 11.9 percent in early 2017 to 9.5 percentby year-end, concentrating in small and weak banks.
Apart from banks, oil and gas stocks alsoattracted heavy investment thanks to rising global oil prices.
Major companies including PV Gas (GAS),PetroVietnam Drilling and Well Services (PVD) and Petrolimex (PLX) ralliedbetween 2.5-4.7 percent each.
Ending the January 3 trade, the US lightcrude oil (West Texas Intermediate) increased 2.1 percent to 61.63 USD perbarrel for February contracts while Brent crude edged up 1.9 percent to 67.84 USDper barrel.
Overall market condition was positive with198 stocks rising, 103 falling and 48 closing flat. Nearly 153 million sharesworth 6.2 trillion VND (272 million USD) were traded in HCM City’s market.
According to Quang Vo, an analyst at VietDragon Securities Co, total trading value continuing to be more than 5 trillionVND in the last three sessions without impact from any special events signalledhigh investor expectation for another fruitful year for the stock market.
Meanwhile, analysts at Bao Viet SecuritiesCo (BVSC) predict the VN-Index will likely advance in the next sessions, drivenby strong capital inflow in large caps, especially in those with good Q4 earningsprospects.
“However, profit-taking selling pressurewill also rise following the rally which will lead to wide divergence in themarket,” Tran Duc Anh, a BVSC’s analyst, wrote in a report on January 4.
On the Hanoi Stock Exchange, HNX-Index edgedup 0.26 percent to end at 119.50 points, lifting the three-day gains to over2.2 percent. - VNA
VNA
