Vietnam Stock Exchange: Latest Update on Vietnam Stock Market

The indices on both of Vietnam’s stock exchanges closed slightly higher yesterday after the publication of economic growth figures.

Gross domestic product (GDP) was reported to have risen 6.52 per cent during the first nine months of the year. Growth was even more robust in major cities, reported at 11.2 per cent in HCM City and 10.6 per cent in Hanoi.

On the HCM City Stock Exchange, the VN-Index continued in positive territory throughout yesterday’s session, closing up 0.11 per cent to 450.20 points.

The value of trades reached VND951.3 billion (US$ 48.8 million) on a volume of 37.4 million shares, an increase of 6 per cent over last Friday’s session.

Decliners once again outnumbered advancers, however, by 129-77.

Ocean Group (OGC) remained the most-active share on the southern exchange, with 2.48 million traded. OGC closed down by about 3 per cent to VND32,400. ($ 1.66) per share.

Of the 10 leading shares by capitalization, only three advanced, with Bao Viet Holdings (BVH) and Sacombank (STB) reaching their ceiling prices.

Investors responded to growth data, which had a modest impact on investor sentiment, said Au Viet Securities Co deputy director Le Anh Thi, noting that investors were still waiting on results of the State Bank of Vietnam’s review of its controversial Circular No 13, which would raise capital adequacy requirements for commercial banks.

“Uncertainty of this review continues to make investors wary,” Thi said, noting the humble volume of yesterday’s sessions. “There are four days left until the circular takes effect, but a number of differing opinions on the review continue to circulate.”

“Although the impacts of Circular 13 have already been reflected in share prices, an announcement on the final result will have a strong impact on investor psychology,” said independent analyst Nguyen Viet Hung.

On the Ha Noi Stock Exchange yesterday, the HNX-Index edged up by 0.23 per cent to close at 129.93 points.

Trades totalled just VND614.4 billion ($ 31.5 million), a decline of 4 per cent from last Friday’s value, while volume hit just 24.8 million shares, a decrease of 8 per cent. Gainers narrowly outnumbered losers by 131-123.

PetroVietnam Construction (PVX) continued as the most-active share nationwide with 3.25 million shares changing hands. PVX picked up 0.85 per cent in value to end the session at VND23,700 ($ 1.20) per share.

Foreign investors continued as net buyers on both exchanges yesterday but by a narrow margin, picking up a combined net of VND11 billion ($ 564,000) worth of shares.

The gold market continued to draw investor attention away from stocks, with gold hitting another new domestic record yesterday of around VND30.7 million ($ 1,575) per tael. (A tael is equivalent to 1.2 ounces). (PNA/VNS)

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