VN stocks advance as securities, banking and aviation industries rise
VN stocks advance as securities, banking and aviation industries rise
Vietnamese shares had a good start to the week on Monday, driven by a strong cash flow injected largely into securities, banking and aviation.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 1.6 per cent to close at 861.16 points.
The VN-Index dropped a total of 0.51 per cent last week.
More than 215 million shares were traded on the southern exchange, worth VND4.2 trillion (US$182 million).
Market breadth was positive with gainers outperforming decliners by 251 to 116.
Large-cap stocks in the brokerage, banking and aviation sectors boosted the market.
Gainers in banking group included Bank for Investment and Development of Viet Nam (BID), Vietinbank (CTG), Asia Commercial Bank (ACB), Military Bank (MBB), Sacombank (STB), VPBank (VPB) and Techcombank (TCB).
Brokerages also outperformed with Ho Chi Minh Securities Corp (HCM), Saigon Securities Incorporation (SSI), Sai Gon-Ha Noi Securities Co (SHS), VNDirect Securities Co (VND) and VietCapital Securities (VCI) all increasing.
The aviation sector posted strong growth on Monday with gainers Saigon Ground Services JSC (SGN), Noi Bai Cargo Terminal Services (NCT), Vietnam Airlines Corporation, listed with code (HVN), the Airports Corporation of Vietnam (ACV) and cold-storage facility Swire Cold Storage (SCS).
The VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, rose 1.72 per cent to close Monday at 803.46 points.
“The Vietnamese stock market closed Tuesday higher as the group of large-cap stocks posted strong gains and supported the market,” said Thanh Cong Securities Co (TCSC).
“Market liquidity still remained at an average level, meaning that investors are still disbursing with caution when the VN-Index continues to increase,” TCSC said.
“The VN-Index is likely to continue its rally in the coming sessions but will undergo correcting pressure when approaching the resistance area of 870 - 880 points,” the company said.
Foreign investors net bought VND24.49 billion on HOSE, including dairy firm Vinhomes (VHM) (VND152.38 billion), dairy firm Vinamilk (VNM) (VND33.49 billion) and Saigon Securities Incorporation (SSI) (VND10.05 billion). They were net sellers on the HNX with a value of VND7.11 billion.
On the Ha Noi Stock Exchange, the HNX-Index rose 1.37 per cent to end Monday at 113.07 points.
The northern market index lost 1.67 per cent last week.
More than 33.3 million shares were traded on the northern exchange, worth VND371 billion.
