A number of large caps like VNM, GAS and VIC went up on September 8, leading the VN-Index of the HCMC exchange to add 4.79 points (0.72%) at 666.07 after four straight days of losses.       

Liquidity also rose sharply as trading volume surpassed 124.5 million shares worth a combined VND3.1 trillion (US$140.7 million). Matching transactions reached 112.6 million shares valued at VND2.7 trillion.

Viet Capital Securities Company wrote in a report that the main index eased off a week-long slide with the first gain of the month. It stayed in positive territory in much of the session, peaking above 668 points before closing at 666.07.

GAS was the biggest contributor to the rally as Brent crude rose further in Asian trade, extending a 7.4% increase over the past seven days. VNM edged up 0.7%, BID 1.2% and VIC 0.6%, and were among the top drivers of the equity market.

FPT has jumped 13% since August 4 to VND45,600 a share with 3.2 million shares changing hands. Steelmaker HPG has been up 79% in the year to date.  

According to Dau tu Chung khoan newspaper, Thanh Thanh Cong Tay Ninh Company (SBT) and HAGL Company (HAG) lured investors on news that the former is in talks over the possible acquisition of HAG’s sugar mill in Laos. SBT ended down a mere 0.86% at VND34,600 per share while HAG stood at the reference price of VND5,700 a share.

On the Hanoi exchange, the HNX-Index regained what was lost on Wednesday with a 0.56% rise at 84.69 points.       

Investors changed hands 43.8 million shares worth more than VND526 billion, with matching transactions accounting for 39 million shares, up 9%. SCR took the lead by volume with 4.12 million shares traded but it dipped 1.9% due to foreigners’ selling.

Foreign investors were net sellers on the HCMC bourse for the seventh session in a row and their net sales neared VND82.7 billion, a 68% fall from the previous session. They offloaded VNM with VND99.4 billion, PVD with VND16 billion and KDC with VND11 billion.

Meanwhile, they spent VND28.8 on HPG, VND14.8 billion on HSG, VND13.7 billion on CII and VND12.2 billion on NT2.

On the Hanoi exchange, foreigners’ net sales amounted to VND41 billion, up over 9-fold against the session earlier. These investors sold VND29.7 billion of SCR shares and VND23.6 billion of PVS shares, while they acquired BCC, NET and IVS shares worth VND6.3 billion, VND4.3 billion and VND3 billion, respectively.

Source: SaigonTimes