Blue chips gain momentum as VN-Index hits three-week high
Blue chips gain momentum as VN-Index hits three-week high
Blue chips continued to gain ground yesterday, lifting the benchmark Vn-Index on the HCM City exchange to a three-week high of 496.22 points, up 0.43 per cent over Monday's close.
Dairy giant Vinamilk (VNM) rose 1.5 per cent to VND139,000 (US$6.62) a share while PV Gas (GAS) jumped 1.6 per cent. Property developer Hoang Anh Gia Lai Group (HAG) rose by 2.3 per cent and logistic Gemadept (GMD) increased by 2.5 per cent.
HAG was the most active code with 3.4 million shares traded at VND22,400 ($1.07) a share.
The VN30 tracking the top 30 shares by market capitalisation and liquidity grew 0.21 per cent to stand at 549.75 points.
PetroVietnam General Services Corp (PET) and Pha Lai Thermal Power Co (PPC), which will be added to the VN30 from July 22, also rose from about 2 per cent each.
Total market volume was little changed from the previous session, reaching 42.3 million shares and fund certificates worth VND983 billion ($46.8 million).
"Most traders are still waiting for corporate earnings reports to make new investment decisions," said stock analysts from FPT Securities Co in a report.
On the Ha Noi Stock Exchange, the HNX-Index closed 0.05 per cent lower at 63 points while market volume was still very low at just 19 million shares valued at VND140 billion ($6.7 million).
FLC Group (FLC) remained the most active share on the northern bourse with 3.3 million shares exchanged at VND5,700 a share.
VNDirect Securities (VND) came second on trades of 2 million shares changing hands at VND9,400 each, up 2.2 per cent over Tuesday's closing price. The firm reported a pre-tax profit of VND104 billion ($5 million) for the first half of this year, surpassing its yearly target set for the whole year.
Foreign investors were net sellers in HCM City yesterday but their net sell value was small at just VND1.51 billion ($71,900) worth of shares. They were still net buyers on the Ha Noi exchange, picking up shares worth VND5.55 billion ($264,300).
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