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VN-Index advances on bank stocks

Vietnamese shares remained positive on both local exchanges on November 14 as banking-financial stocks performed well on strong foreign purchases.
VN-Index advances on bank stocks ảnh 1Investors at the Saigon Securities Inc.’s office in Hanoi (Photo: VNA)

Hanoi (VNA) - Vietnamese shares remained positive on both localexchanges on November 14 as banking-financial stocks performed well on strongforeign purchases.

The benchmark VN Index on the HCM Stock Exchange inched up 0.18 percent toclose at 880.90 points despite strong selling pressure when the benchmarkneared the level of 885 points during the session.

The VN Index has achieved total growth of 5.7 percent after the last eightconsecutive sessions.

The HNX Index on the Hanoi Stock Exchange gained 0.26 percent to end at 107.06points. The northern market index has rallied total 2.1 percent in the lastfive trading days.

More than 266.5 million shares were traded on both local bourses, worth 9.68trillion VND (430.3 million USD).

The stock market continued to be dominated by declining stocks, whichoutnumbered gaining ones by 253 to 204.

The trading figuresposted a decrease of 22 percent in volume and 32 percent in value compared to November13’s numbers.

[14 listed firms honoured for investor relations]

Banking-financialstocks were the main driving factor pushing local markets up on November 14,after they received strong purchasing from foreign investors.

Foreign investors on the day posted 198.5 billion VND worth of net buy value.

Net foreign investment in shares of Vietcombank (VCB) reached 22.73 billion VND,19 billion VND in Bank for Investment and Development of Vietnam (BID), 18.5billion VND in Viet Capital Securities (VCI) and 10.9 billion VND in HCM CitySecurities (HCM).

Among those four financial stocks, VCI hit its daily increase limit of 6.9percent and the three others were up between 0.2 percent and 1.5 percent.

Large-cap stockscontinued to attract huge investor attention as 20 of the 30 largest shares bymarket capitalisation advanced. The VN30 Index increased by 0.34 percent to871.08 points.

On the negative side, profit-taking strengthened when some stocks reachedinvestors’ expected profitable price ranges.

Dairy producer Vinamilk (VNM) fell 2.4 percent after it had gained nearly 17percent in the previous four sessions. Bình Minh Plastic Co (BMP) dropped 1.7percent from a six-day increase of total 21 percent. -VNA
VNA

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