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Shares move up in the week’s last session

Investors track trades on the HCM City-based Maybank KIM ENG Securities Co’s trading floor. — VNA/VNS Photo Hoàng Hải

HÀ NỘI — After struggling in the morning, the market accelerated upward in the afternoon session on Friday as real estate stocks and petroleum remained upbeat.

The VN Index on the HCM Stock Exchange advanced 0. 六 四 per cent to close at  一, 一 七 四. 四 六 points in the last trading of the week. The Index edged down 0. 四 四 per cent on Thursday, after advancing  一. 六 per cent in the previous three days.

The HNX Index on the Hà Nội Stock Exchange increased 0. 四 四 per cent to end at  一 三 二. 四 六 points. It closed off 0. 五 一 per cent in the previous session.

More than  二 四 九 million shares, worth VNĐ 六. 九 trillion (US$ 三0 二 million), were traded on the two local bourses.

Market breadth was quite balanced, with  二 八 四 gaining shares,  二0 二 declining ones and  二 五 五 stocks ending flat.

The UPCoM Index on the Unlisted Public Company Market moved up 0. 七 六 to close at  六0. 六 六 points. The index gained 0. 七 七 per cent in the previous session.

Real estate stocks drove the market up, with Vingroup (VIC) and No Va Land Investment Group Corporation (NVL) up  一. 九 and  四. 四 per cent, respectively.

Petroleum stocks also performed well, with prominent names like PetroVietnam Gas Joint Stock Corporation (GAS), Việt Nam National Petroleum Group (PLX) and PetroVietnam Drilling Well Services Corporation (PVD) advancing.

Large-cap stocks under-performed, as  一 七 of the  三0 largest stocks by market capitalisation and liquidity in the VN 三0 Index increased, pulling the large-cap index up 0. 七 三 per cent to  一, 一 五 三.0 八 points.

Foreign investors today were net buyers of VNĐ 三 五 二. 二 billion on HOSE, focusing on food processor Vĩnh Hoàn Corporation (VHC) (VNĐ 七 五. 六 billion), Masan Group (MSN) (VNĐ  六 六. 一 billion) and property developer Vingroup (VIC) (VNĐ  六 一. 三 billion). In addition, they bought a net buy of VNĐ 三. 一 六 billion on the Hà Nội Stock Exchange.

According to Bảo Việt Securities (BVSC), after a week of fluctuations, VN-Index is expected to send clearer signals next week. However, cash flow contraction reflected investors’ caution.

“We think VnIndex is still at high risk of a short-term correction,” BVSC said in its daily report.

Hapro IPO

Also on Friday, the Vietnamese government raised over VNĐ 九 八0 billion by selling a  三 四. 五 一 per cent stake in the state-run trading and retailing firm Hà Nội Trade Corporation (Hapro) in its initial public offering (IPO) on the Hà Nội Stock Exchange.

The proceeds surpassed the government’s expectations of VNĐ 九 七 二. 八 billion from the IPO.

The divestment of the company is the latest in Việt Nam’s broader privatisation progra妹妹e to increase efficiency and performance of state-owned enterprises.

With more than  四0 subsidiaries under its belt, Hapro operates a chain of supermarkets and convenience stores and owns many land plots and properties at prime locations, increasing its attractiveness for investors.

Nearly  三 六 四 investors including two organisations and  三 四 四 individuals registered to buy the  七 六 million shares that were offloaded in the auction with the highest winning price of VNĐ 二0,000 apiece.

Hapro has charter capital of VNĐ 二. 二 trillion. Following the equitisation plan, the state will not hold any shares in Hapro after equitisation.

According to Vietnamese regulations, any state-owned company has to list its shares within one year after its IPO.

In  二0 一 七, Hapro’s net revenue was VNĐ 一. 九 三 trillion, down  一 七 per cent year on year, while its pre-tax profit was down  八 per cent at VNĐ 一 一 billion. The privatisation plan for Hapro was approved by deputy Prime Minister Vương Đình Huệ last December. — VNS