The Market Rose Prior to the US Election - Oil and Gas Industry Update
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The market increased right after opening, but only heated up in the afternoon. This increase spread across the board, from small and mid-cap stocks to many blue chips. As 24 out of 30 stocks in the VN-30 rose, including many big names such as VCB, GAS, BVH, HPG and VIC, it was no surprise that the VN-Index surged by 1.11% to 674.14 points. Total turnover on the 2 exchanges was VND2,035 billion, VND200 billion higher than last Friday. While internal investors were quite active, foreigners still remained silent. Their trading was almost negligent (net sell of VND4 billion on 2 exchanges), and their turnover value accounted for only 9.6% of the total market, the lowest level in many weeks. Foreign investors focused solely on VNM (sold VND79 billion), HPG (bought VND40 billion) and VCB (bought VND22 billion).
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