Wednesday,  Mar 21,2018,15:44 (GMT+7)

Property stocks predicted to turn active in Q1

Phuong Thao
Monday,  Jan 8,2018,20:36 (GMT+7)
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Property stocks predicted to turn active in Q1

Phuong Thao

HCMC – Having run strongly into banking stocks lately, cash is expected to shift into the property sector in the first quarter of 2018 as many real estate businesses are poised to report huge profits, said securities experts.

Nguyen The Minh, deputy director of analysis and investment consulting at Saigon Securities Inc. (SSI), said property stocks may soar in the first quarter of 2018 after announcing profits in the last quarter of 2017. Notably, many enterprises may post positive figures thanks to project transfers.

According to Hoang Thach Lan, head of individual client analysis at Viet Dragon Securities Company, the banking sector has been the key market driver in recent times. Most bank stocks have advanced more than 10% over the past month.

Meanwhile, the real estate sector is expected to make a significant rise. In the last quarter of 2017, leading stocks such as ASM, CEO, D2D, DXG and HDC reported good earnings results, prompting investors to pay attention to their financial reports in the next few weeks.

The key factor at property firms is the construction progress of their projects, which is a catalyst for investors eyeing property stocks.

While large-scale enterprises and foreign firms usually provide transparent information for analysts of securities firms, customers and the public, many small businesses still skip the duty, Lan said in an interview on tinnhanhchungkhoan.vn.

Nguyen Hong Khanh from Sacombank Securities Company, meanwhile, noted that some enterprises may report heavy losses in the last quarter.

In 2018, the real estate sector would not see strong volatility like in previous years but projects at convenient locations will still draw market demand. Therefore, enterprises with good projects will remain attractive to investors, he said.

The VN-Index fell for the first time in two weeks, closing down 0.7% last Friday. For the holiday-shortened week, the index still advanced 2.9% for a third week of gains.

Several large caps that have surged in recent months were the top contributors to the pullback, including lender VCB, gas firm GAS and leading realty company VIC. Lender HDB jumped to the ceiling on its first day of trading on the HCMC market amid heavy trade volume of VND1.23 trillion, helping push overall trading on the index to VND7.7 trillion.

Minh from SSI said that the main index is hovering around 1,010 points after beating the 1,000 points earlier this year. As this is a resistance level, the index may seesaw in a narrow range or correct in the near term.

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