Shares finish higher, bolstered by rubber and securities stocks
Shares finish higher, bolstered by rubber and securities stocks
Viet Nam's stock market had a good start on Monday, bolstered by strong gains in many stock groups including securities and rubber production.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) gained 0.76 per cent to end at 1,467.57 points.
The market's liquidity was positive with 288 stocks rising, while 174 slid.
Investors poured over VND31.4 trillion (US$1.38 billion) into the southern exchange, equivalent to a trading volume of 1 billion shares.
The 30 biggest stocks tracker VN30-Index rose 0.25 per cent, to end at 1,535.66 points. Seventeen in the VN30 basket climbed, while 12 decreased and one stayed flat.
Gainers in the VN-30 group included SSI Securities Inc (SSI) with a gain of over 3 per cent, Masan Group (MSN) up by nearly 3 per cent. Vinamilk (VNM), The Viet Nam Rubber Group (GVR), Viet Nam National Petroleum Group (Petrolimex, PLX), Vietjet (VJC), HDBank (HDB) and Sabeco (SAB) were among those that gained more than 1 per cent.
On the other side, Vincom Retail (VRE) and VPBank (VPB) fell slightly more than 1 per cent.
Rubber stocks attracted cash flow in the session, supporting the market's bullish sentiment. Gainers in the sector were Danang Rubber Joint Stock Company (DRC), The Southern Rubber Industry JSC (CSM) and Sao Vang Rubber Joint Stock Company (SRC), rising by 5.44 per cent, 3.37 per cent and 2.87 per cent, respectively.
Securities stocks outperformed as there were no losers in the sector. Petrovietnam Securities Incorporated (PSI), Guotai Junan Securities (Vietnam) Corp (IVS), Viet Nam Bank For Industry & Trade Securities JSC (CTS) and VIX Securities Joint Stock Company (VIX) all hit the ceiling prices.
Other notable gainers included SSI Securities Inc (SSI), increasing by more than 3 per cent, VNDirect Securities Co (VND) up 5 per cent, Viet Capital Inc (VCI), Saigon-Hanoi Securities Co (SHS) both advanced more than 1 per cent.
“At the beginning of today, VN-Index gained more than 8 points with high liquidity. However, the profit-taking pressure at the high price area then made the index stay flat throughout the morning. In the afternoon session, the market struggled, finally closing up 11 points compared to the previous session,” said BIDV Securities Co.
“Market breadth tilted to the positive side. Regarding the transactions of foreign investors, today they were net buyers on both HSX and HNX. The market trend may still maintain a positive movement as the cash flow is still supporting the market's uptrend,” it said.
Foreign investors net bought VND504.32 billion on HOSE. They were net buyers on HNX with the value of VND9.57 billion.
On the Ha Noi Stock Exchange (HNX), the HNX-Index gained 1.04 per cent to 432.10 points.
During the trading session, more than 159.4 million shares were traded on HNX, worth nearly VND3.9 trillion.
