Investors at the SSI stock trading floor. (Source: VNA) Hanoi (VNA) – The benchmark VN-Index rose to yet another new 10-year peakon November 20, ending the session at 903.55 points, up 13 points, or 1.44 percentover November 17’s close.
Thesouthern market index advanced 2.6 percent last week.
Theupturn was driven mainly by strong growth of some individual blue-chip stocks,especially real estate giant VinGroup (VIC) and its retail arm Vincom Retail(VRE) which both hit the daily limit rise of 7 percent.
VICclosed at 76,300 VND (3.36 USD) a share while a VRE share was traded at 47,700 VNDeach.
Atthis price, market capitalisation of these two companies was a combined 292trillion VND (roughly 13 billion USD), surpassing the value of the biggestlisted company Vinamilk at 11.9 billion USD.
VinGroup’smarket value rose to the second place after Vinamilk (VNM) on November 20,while Vincom Retail’s market capitalisation ranked sixth, a big success sinceits debut on the HCM Stock Exchange on November 6.
Dairygiant Vinamilk (VNM) also rose 2.1 percent on November 20, hitting 187,000 VND pershare.
TheSingapore-based Jardine Cycle and Carriage (JC&C), through its 100-percentowned company Platinum Victory Pte Ltd, has raised its stake in Vinamilk to 10 percent.
It hasbecome Vinamilk’s third largest shareholder after the State Capital Investment Corporation(SCIC) with 36 percent and another Singapore’s food and beverages companyFraser and Neave (F&N) with 18.7 percent.
Otherwinning large caps included PV Gas (GAS), up 3.1 percent; Binh Minh Plastics(BMP), up 6.3 percent; Hau Giang Pharmaceutical (DHG), up 1.6 percent; and FPTCorp (FPT), 2.1 percent.
Inthe VN30 (which tracks the top 30 largest shares by market value and liquidityon the HCM Stock Exchange), list, 18 stocks gained and 11 lost.
Theoverall market condition was rather neutral with 143 stocks rising, 129 fallingand 57 closing flat.
Despitea strong rally on November 20, Bao Viet Securities Co (BVSC) analysts havestill warned of a possible correction after a strong rally.
“After an overheating period, the market is likely toexperience short-term downtrend to ease the profit-takingpressure. However, the market may not tumble but decline slightly amidst a wide divergence among groups ofstocks,” Tran Hai Yen, a BVSC analyst, wrote in a report on November 20.
Liquidityrecorded a 7-session low at 176 million shares worth over 5.66 trillion VND (249.5million USD). Foreign investors were net sellers for a modest value of 46billion VND.
Onthe Hanoi Stock Exchange, without the support of large-cap stocks, theHNX-Index dropped 0.18 percent to close at 108.11 points. – VNA
VNA
