Stocks climb on investor belief
Stocks climb on investor belief
Hanoi - Blue chip gains once again lifted stocks on both exchanges yesterday as investor optimism strengthened.
On the HCM Stock Exchange, the VN-Index rose for the fifth consecutive day, adding another 0.6 per cent to end the session at 573.77 points.
Market sentiment was positive with 113 shares climbing, 89 falling and 99 closing flat.
Large-cap shares such as dairy giant Vinamilk, PV Gas (GAS) and Masan Group (MSN) gained momentum with the three shares surging around 1 per cent each.
The VN30 Index which tracks performance of the top 30 shares by market value and liquidity increased 1.14 per cent to stand at 615.52.
Trading was lively with both market volume and value up 10 per cent over the previous session, totaling more than 96 million shares worth VND1.424 trillion (US$67.5 million).
Real estate FLC Group (FLC) continued to be the most active stock on trades of 11.4 million shares, closing flat at VND10,800 a share although it sometimes hit VND11,100.
Tan Tao Investment Industry Corp (ITA) was second highest performer with 4.5 million shares traded, also ending unchanged at VND8,000 a share.
The HNX-Index on the Ha Noi Stock Exchange also grew 0.49 per cent to close at 76.29 points, while the HNX30 inched up 0.13 per cent to 152.93 points.
According FPT Securities Co analysts, market confidence strengthened as the primary HCM City's bourse extended its winning streak to five days. In the absence of positive news, the steady support of blue-chips gave a strong boost to the market.
Gainers outnumbered losers by 102-82, while 76 stocks were unmoved.
Trading improved over Wednesday with 48 million shares worth VND486.2 billion ($23 million) exchanged.
Sai Gon Thuong Tin Real Estate Joint Stock Company (SCR) was the most active share on trades of 7 million shares changing hands, climbing 2.4 per cent to settle at VND8,600 per share.
Foreign investors continued to buy local shares. They were responsible for a combined net buy value of nearly VND60 billion ($2.8 million) worth of shares on the two markets yesterday.
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