Shares recover on the rise of large-caps, surge of world stocks
Shares recover on the rise of large-caps, surge of world stocks
Vietnamese equity markets rebounded on Wednesday, buoyed by a surge in global markets and capital injected in heavyweight stocks.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange (HOSE) rose 0.21 per cent to close at 869.91 points.
The southern index had lost 0.07 per cent to close Tuesday at 868.11 points.
Nearly 258.3 million shares traded on the southern market, worth VND4.5 trillion (US$195.1 million).
Market breadth was positive with 223 gainers and 156 decliners.
The VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, increased 0.59 per cent to close Wednesday at 810.16 points.
Pillar stocks reported strong gains such as Bank for Investment and Development of Viet Nam (BID), insurer Bao Viet Holdings (BVH), Vietinbank (CTG), FPT Corporation (FPT), HDBank (HDB), steelmaker Hoa Phat Group (HPG), Military Bank (MBB), Mobile World Group (MWG), Novaland (NVL), Techcombank (TCB), Vietcombank (VCB), Vinhomes (VHM), VPBank (VPB), Vinamilk (VNM) and Vincom Retail (VRE).
Real estate and construction attracted large cash flow with gainers including Coteccons Construction (CTD), Hoa Binh Construction and Real Estate Corporation (HBC), Ha Do Group Joint Stock Company (HDG), Khang Dien House Trading and Investment (KDH) and Phat Dat Real Estate Development Corporation (PDR).
The industrial real estate group also performed well, with notable names like Nam Tan Uyen JSC (NTC), Sonadezi Long Thanh Holding Company (SZL) and Sonadezi Chau Duc (SZC) rising.
The stock market was also driven by strong gains in global markets in Wednesday's overnight trading.
The US stock market outperformed on Tuesday night with the Dow Jones Industrial Average surging 2.13 per cent to end at 26,642.59 points, while the S&P 500 gaining 1.34 per cent to 3,197.52. The Nasdaq Composite added 0.94 per cent to 10,488.58.
On the Ha Noi Stock Exchange (HNX), the HNX-Index was down 0.2 per cent to end Wednesday at 115.91 points.
Nearly 33.5 million shares were traded on the northern market, worth VND362 billion.
Foreign investors net sold VND110.35 billion on HOSE. They were net sellers on the HNX with a value of VND3.74 billion.
According to BIDV Securities, with the July 2020 futures contract expiring on Thursday and OPEC closing their meeting Wednesday, the market is likely to experience strong fluctuations in the last two sessions of the week.
