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Roundup: Vietnam's Hanoi stock market continues upward trend, posting five-week high

Xinhua, May 29, 2015 Adjust font size:

Vietnam's capital Hanoi stock market continued the upward trend during the week, climbing to the highest level in the past five weeks.

As of Friday, the HNX-Index, the benchmark of the Hanoi Stock Exchange, gained 3.68 points or 4.63 percent against the last Friday's closing session.

Compared to the last trading session in 2014, the HNX-Index on Friday posted an increase of 0.25 points or 0.3 percent.

During the week, the index witnessed four ups and one down, fluctuating between 80.25 points and 83.65 points.

Last week, the HNX-Index ranged between 76.51 points and 79.71 points.

On Friday, the Hanoi bourse closed at 83.23 points, down 0.41 points or 0.5 percent against the previous trading session.

A total of nearly 52.351 million shares worth over 554.648 billion Vietnamese dong (25.68 million U.S. dollars) were traded at the Hanoi Stock Exchange on Friday, a decrease of 27.23 percent in volume and 28.97 percent in value against the previous trading session.

Prices of 78 stocks went up, 117 stocks down, while 60 stocks remained unchanged.

From Monday to Thursday, foreign investors bought over 5.566 million shares while sold out over 4.42 million shares.

During the week, the buying volume of foreign investors has slowed down while the selling trend has increased.

Last week, they bought around 9.36 million shares while sold out over 3.572 million shares.

According to analysts, the risk on the market will become higher if there is a strong selling trend in the coming sessions.

The range of 79.5-80.5 points will serve as resistance level in case of market adjustment, they said.

Regarding the situation of listed companies, according to statistics of the Hanoi bourse, in the first quarter of 2015, the post-tax profits of listed companies on the bourse reached around 2.998 trillion Vietnamese dong (nearly 138.8 million U.S. dollars), an increase of 31.94 percent compared to the same period in 2014.

Among the listed companies, as many as 302 of them saw profits of nearly 3.162 trillion Vietnamese dong (nearly 146.4 million U.S. dollars), while 53 others witnessed losses of 163.4 billion Vietnamese dong (nearly 7.565 million U.S. dollars).

Businesses operating in industrial sector posted the best results, accounting for 34.9 percent of the total profit. Financial companies ranked second with 29.6 percent of the total profit, while that of mining and oil industry was 15.9 percent, according to the Hanoi bourse. Endi