After twice plunging below the 900-point level, the VN-index recovered this week. Prices of several stocks increased as investors regained their confidence in placing buying orders.
Though the increasing trend is entirely clear as the VN-Index reduced slightly at the weekend session, down 2.53 points, closing at 935.68 but the recovery this time seems to be more stable. At the weekend trading session, though the index was down, the total market volume and value were still up. As many as over 6 million shares were traded for over VND 656 billion.
According to experts, many investors seemed to think that the index has reached the bottom of the adjustment period and now is the time to buy. Investors’ becoming familiar with the new automatic matching system at the southern bourse is also regarded as another explanation for the increase in trading volume and value this week.
In addition, the Ho Chi Minh City Securities Trading Centre was transform to Ho Chi Minh City Stock Exchange of on August 8 with its reforms supporting a better development in the stock market thereby bolstering the investors confidence in the recovery of the market.
According to many investors, the first sharp increase of the index on August 7 was of great importance to them, helping them find psychological support at the time they were losing direction.
To investors, the turnaround of the market on August 7 showed that the VN-Index had dropped to a level that most share prices on the market had now become more attractive.
On August 9, the increase were clear. Along with blue chips gains, prices of many other stocks also increased. A total of 83 stocks increased. FPT became a phenomenon when it continued to be in the list of top five gainers, up VND 11,00 a share and was also the most traded stock with nearly 538,000 shares changed hands.
It was noteworthy that the increases in total trading volume and value in these sessions have proved that purchasing power is still strong and shows the investor confidence in the securities market.
Thus, the VN-Index ended this week with three gains and two losses, marking a net increase of 42.80 points.
In Hanoi, the HaSTC index closed the week at 257.34, up 2.39 points compared to the figure of last week.
At the weekend trading session, total trading volume was over 1.4 million for a total value of over VND 143 billion. Foreign investors’ transactions were also up sharply. They bought and sold a total of 739,500 shares for over VND 74.3 billion.
SSI continued to be the most traded stock with over 300,000 shares changed hands, followed by NTP (177,400) , BCC (156,300), ACB and BTS (over 100,000).
In the following sessions, the northern bourse will attract the investor interest as one of the leading insurance company, the PetroVietnam Insurance Corporation, officially listed its 50 million PVI shares on August 10.
Source: Nhan Dan
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