An obvious recovery - FPT, MWG Update
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Most of shares advanced after a boring week. The ETFs finished their reconstitution activities on last Friday and many large cap stocks were sold in both bourses; however, the support 650 was remained. It is usually said “after the rain comes the sunâ€. Obviously, investors participated in markets actively. VNIndex jumped 6.58 pts and closed at 657.89 pts while HNIndex put on 0.38 pt and closed right below 83 pts. Total traded values surged by 15.34% compared to average values of last week sessions (excluded ETFs session on Friday) and recorded VND2,857 billion worth shares successfully traded. VNM continued to go down in spite of released information of SCIC divesting 10% of its holding at VNM. Selling pressure from foreign investors is the main reason hindering VNM gains. About foreign trading activities, it is biased by the selling values of VND63 billion at VNM. In HSX, they were net buyers in term of traded volumes as they net bought more than 385k shares but net sold more than VND20 billion due to VNM’s extreme value. In HNX, offshore investors net bought VND7.7 billion worth of shares.
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