'Vin' stocks drive market
'Vin' stocks drive market
Shares rebounded on Tuesday morning with improved liquidity thanks to the positive movement of “Vin” stocks.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange rose 0.57 per cent to close at 987.67 points.
More than 83.7 million shares were traded on the southern bourse, worth VND2.2 trillion (US$96 million).
The large-cap VN30-Index was up 0.55 per cent to 884.45 points. Seventeen of the 30 largest stocks by market capitalisation ended the morning session on a positive note.
Three “Vin” shares, namely Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE), all extended their rallies. VIC increased by 2.8 per cent to VND119,800 per share. VHM rose by 1.5 per cent to VND85,900 per share and VRE climbed 0.7 per cent to VND36,950 per share.
Many other large-cap stocks such as Military Bank (MBB), Sabeco (SAB) and Mobile World Group (MWG) also performed well.
Oil and gas stocks also made gains, including PetroVietnam Gas JSC (GAS) (1.1 per cent) and PetroVietnam Coating (PVB) (2 per cent).
On the negative side, stocks such as Vinamilk (VNM), FLC Faros Construction JSC (ROS), Masan Group (MSN), Vietinbank (CTG) and Asia Commercial Bank (ACB) dropped and put considerable pressure on the general market's momentum.
On the Ha Noi Stock Exchange, the HNX-Index lost 0.08 per cent to end at 106.67 points on Tuesday morning.
Nearly 15.4 million shares were exchanged on the northern bourse, worth VND228 billion.
Afternoon trading starts at 1pm.
