Large-cap stocks drive Vietnamese share market up
Large-cap stocks drive Vietnamese share market up
Vietnamese shares advanced on Friday morning on the good move of large-cap stocks, but profit-taking pressure is expected to remain high at some 1,200-point level.
The benchmark VN Index on HCM Stock Exchange gained 0.50 per cent to close at 1,199.16 points, up from the previous two-day increase of 0.4 per cent.
The VN Index narrowed its growth as profit-taking pressure rose when it surpassed the 1,200-point landmark, gaining as much as 0.8 per cent.
More than 132.4 million shares, worth VND3.8 trillion (US$168.7 million), were traded on the southern bourse.
The market breadth was positive with 159 gaining stocks, 112 declining ones and 41 stocks ending flat.
Large-cap stocks were the main factor to drive the market up as the large-cap VN30 Index climbed 0.43 per cent to 1,174.12 points, boosted by two-thirds of the 30 largest stocks by market capitalisation.
Among the largest gainers in the VN30 Index were Sacombank, logistics firm Gemadept, Coteccons Construction Corp. and insurer Bao Viet Holdings. These stocks rose by at least 1.9 per cent.
On Ha Noi Stock Exchange, the HNX Index increased by 0.64 per cent to end at 137.63 points. It was up one per cent on Thursday.
Nearly 43 million shares, worth VND671.3 billion, were traded on the northern bourse.
The UPCOM Index on the Unlisted Public Company Market went up 0.30 per cent to stay at 60.60 points, recovering from its previous 0.07 per cent fall.
The afternoon trading session starts at 1pm.
