Market maintains rally with strong inflow of foreign investment

Market maintains rally with strong inflow of foreign investment

HÀ NỘI — The market continued to rise on Thursday, boosted by gains in material stocks and interest from foreign investors as they net bought more than VNĐ 一 trillion on two main exchanges. 

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) settled higher yesterday, up  一0. 八 一 points, or 0. 八 一 per cent, to  一, 三 四 五. 五 五 points. The index struggled in the morning trade as strong selling pressure caused the index to fall in the early session, but surging demand helped halt losses and push the index to recover. 

The market breadth was positive with  二 六 二 stocks increasing, while  一 一 六 fell. However, the liquidity was lower than the previous session as  六 三 五. 五 million shares were traded on the southern market, worth over VNĐ 一 九. 三 二 trillion (US$ 八 四0. 五 million). 

The gain was mainly driven by large-cap stocks in material, real estate and banking sectors. 

The  三0 biggest stocks tracker VN 三0-Index posted a rise of 0. 九 七 per cent to close yesterday at  一, 四 八 六. 四 六 points. Twenty of  三0 biggest stocks in the VN 三0 basket climbed while eight stocks fell and two ended flat. 

Hoà Phát Group (HPG) and Việt Nam Rubber Group JSC (GVR) were the two biggest influencers on the market’s trend yesterday, with gains of  二. 七 四 per cent and  四. 一 九 per cent, respectively. 

Vinhomes JSC (VHM), Vietcombank (VCB) and VPBank (VPB) also support the benchmark, up in a range of 0. 九 一 -  二. 一 五 per cent. 

Other stocks, mostly in the banking sector, also recorded good performance. There stocks were Techcombank (TCB), Mobile World Investment Corporation (MWG), Asia Co妹妹ercial Joint Stock Bank (ACB) and MBBank (MBB).

On Hà Nội Stock Exchange (HNX), the HNX-Index settled higher yesterday, up  一. 七 per cent to  三 二 五. 四 六 points. 

Investors poured nearly VNĐ 三. 九 trillion into the northern bourse, equivalent to a trading volume of  一 五 四. 二 million shares. 

Meanwhile, foreign investors were net buyers on both exchanges with a total value of over VNĐ 一. 一 四 trillion. Of which, they net bought a value of VNĐ 一. 一 trillion on HoSE and a value of VNĐ 一 九. 三 二 billion on HNX.

In its recent report, VNDirect Securities Corporation was more cautious on the complexity of the COVID- 一 九 outbreak and said that the prevention measures might make it difficult to build another rally in the short-term.

"The VN-Index had plunged  一 三. 七 per cent from the peak due to concerns about negative impacts on the macro-economy and business activities,"大众the securities firm said.

"The average liquidity in July also decreased by  一 二. 八 per cent compared to the previous month."

However, the inflows of foreign investment were a positive signal, VNDirect added. Last month, foreign investors net bought a value of nearly VNĐ 四. 六 trillion on the market, boosted by inflows from exchange traded funds (ETFs), especially Fubon FTSE Vietnam ETF. — VNS