Shares open new week’s trade in positive territory
Shares open new week’s trade in positive territory
Shares advanced on the two exchanges on Monday morning, driven by the growth of financial and real estate companies.
The benchmark VN-Index on the HCM Stock Exchange was up 0.3 per cent to end at 729.8 points.
On the Ha Noi Stock Exchange, the HNX-Index increased 0.5 per cent to reach 90.6 points.
More than 125 million shares worth a combined VND2.3 trillion (US$102 million) were traded on the two markets.
Lenders BIDV (BID), Vietinbank (CTG), Sacombank (STB), insurer Bao Viet Holdings (BVH) and Saigon Securities Inc (SSI) expanded.
Large realty firms such as FLC Group (FLC), Novaland Investment Group (NVL), VinGroup (VIC) and Dat Xanh Real Estate Service & Construction (DXG) increased 0.7-2.2 per cent each.
Several companies will hold their annual shareholders’ meetings (ASM) this month and information surrounding these meetings is likely to have an impact on investor psychology.
Analysts have warned the market could see a correction if the released earnings reports at these meetings failed to meet investor expectations.
Asia Commercial Bank (ACB) and Binh Chanh Construction Investment Shareholding Company (BCI) are holding their ASMs today.
ACB’s shares were down 0.4 per cent to VND24,700 per share, while BCI stayed flat at VND25,200 apiece.
Afternoon trade starts at 1pm.
