Market edges higher on financial stocks
Shares rose on Friday morning, reversing course boosted by bank stocks and securities' stocks.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) increased by 0.23 per cent to 1,264.9 points. The index closed lower on Thursday, down 0.56 per cent. The market breadth was positive as 198 stocks rose while 192 stocks slid.
The liquidity was higher than yesterday with over 423.3 million shares traded on HoSE, worth more than VND12.89 trillion.
The reversal of the index was mainly due to gains in pillar stocks. The VN30-Index, which tracks 30 biggest stocks in market capitalisation on the southern bourse, jumped 0.48 per cent to 1,376.7 points.
21 stocks in the VN30 basket were up while only seven stocks declined and two stocks stayed flat.
Financial stocks led the market's rally with Vietcombank (VCB) being the biggest gainer this morning, up 0.31 per cent. Other stocks in this industry like Techcombank (TCB), Vietinbank (CTG), Saigon Hanoi Commercial Joint Stock Bank (SHB) and SSI Securities Corporation (SSI) also posted positive performance.
Meanwhile, losses in real estate stocks capped the market's gains. Stocks like No Va Land Investment Group Corporation (Novaland, NVL) and Vinhomes JSC (VHM) fell 0.3 - 0.4 per cent in the morning session.
On the Ha Noi Stock Exchange (HNX), the HNX-Index also climbed 1.99 per cent to 292.74 points.