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Banking & Finance

Securities shares to lead the market

Released at: 12:59, 29/06/2015

Securities shares to lead the market

Decree No. 60 expected to drive share trading in securities companies this week.

by Doanh Doanh

Securities shares are expected to lead the market this week after Decree No. 60 was signed by the Prime Minister, allowing foreign investors to increase their stakes in publicly-listed companies.

According to market analysts investors are being advised to maintain their shares at a safe number, focus on leading stocks, and avoid over-investing during sessions where the stock market rises significantly.

The HCM City Securities Corporation (HCM), the Saigon Securities Incorporation (SSI), the VNDirect Securities JSC (VND), the Sai Gon-Ha Noi Securities JSC (SHS), the IB Securities JSC (VIX) and the Bao Viet Securities JSC (BVS) all made significant gains last week.

On the Ho Chi Minh City Stock Exchange (HoSE) the VN-Index lost 0.58 per cent to finish the week at 581.75 points, with 681.5 million shares traded worth VND11.4 trillion ($528.3 million), a decline of 4.16 per cent against the previous week.

The HNX-Index on the Hanoi Stock Exchange (HNX) fell 1.81 per cent to stand at 85.52 points with 264.5 million shares traded, worth VND3.16 trillion ($146.5 million), 16.9 per cent lower than in the previous week.

The market started last week making gains on Monday, with blue chips such as the Vietnam Dairy Products Joint Stock Company (VNM), the Masan Group (MSN), the PetroVietnam Gas Corporation (GAS), and the Vingroup Corporation (VIC) putting in strong performances.

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