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Foreign purchases lift VN stocks
Stocks posted substantial gains yesterday on the two exchanges, thanks to strong buys by foreign investors.
The foreign sector was responsible for another net buy value of VND77.3 billion (US$3.6 million) yesterday on the HCM City Stock Exchange. Their buys focused on blue chips, including VinGroup (VIC), Masan Group (MSN), Hoang Anh Gia Lai Co (HAG) and Phu My Fertilizer (DPM), which also helped lift prices of these shares.
On the Ha Noi Stock Exchange, they also collected shares worth a net value of nearly VND30 billion ($1.4 million).
Stable trading by the foreign sector contributed to ease local investors' psychology.
In the HCMC market, the VN-Index added nearly 6 points, or 1.01 per cent, to close the session at 596.72 points. The VN30, which tracks the top 30 shares by market value and liquidity, gained 1.66 per cent to end at 627.27 points.
Market conditions were positive, as the advancers outnumbered the decliners by 157-71 while 77 closed flat.
Liquidity also soared with both trading volume and value rising 30 per cent over the previous session, totaling 113 million shares worth VND1.944 trillion (nearly $91 million) by the end of the day.
FLC Group (FLC) again was the most active code here, trading more than 9.9 million shares. It climbed 1.8 per cent to finish at VND11,300 a share.
On the Ha Noi Stock Exchange, the HNX-Index edged up 0.89 per cent to end at 86.24 points and the HNX30, which tracks the top 30 shares by market liquidity here, increased 1.37 per cent to close at 164.67 points.
The number of gainers was higher than that of losers by 128-71. The other 162 were flat.
Trading was busy with over 44.5 million shares worth VND555 billion ($26 million) exchanging hands, up 40 per cent in both volume and value compared with Monday's levels.
The investment arm of FLC Group, KLF Joint Venture Global Investment Co (KLF), claimed the most active position with 4.3 million shares being exchanged, going up 1 per cent to close at VND10,700 each.
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