Shares gain on strong buying force
Shares gain on strong buying force
Shares rose on Tuesday as stocks across all sectors witnessed strong buying force.
On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index gained 2.35 per cent to end at 1,446.77 points.
The market's breadth was positive with 396 gainers and 67 losers.
As many as 766 million shares were traded on the southern bourse, worth nearly VND21.7 trillion (US$940.2 million).
The VN30-Index, tracking the 30 biggest stocks on HoSE, gained 2.14 per cent, to end at 1,512.62 points. All 30 out of 30 stocks in the VN30 basket posted gains.
The banking group outperformed and supported the gains of the market with notable gainers including Vietinbank (CTG), Tien Phong Bank (TPB), VPBank (VPB), Vietcombank (VCB), Military Bank (MBB), Sacombank (STB), Eximbank (EIB) and Bank for Investment and Development of Vietnam (BID).
Real estate and construction stocks witnessed a dramatic gain in prices as a series of large-cap stocks soared such as Kinh Bac City Development Holding Corporation (KBC), Ha Do Group JSC (HDG), Nam Long Group (NLG), Hoa Binh Construction Group Joint Stock Company (HBC) and Viglacera Corporation - JSC (VGC), LDG Investment JSC (LDG), Tan Tao Investment and Industry Corporation (ITA), Hoang Quan Consulting-Trading-Service Real Estate Corporation (HQC), Thu Duc Housing Development Corporation (TDH), Van Phat Hung Corporation (VPH), Licogi 16 Joint Stock Company (LCG) and FECON CORPORATION (FCN).
Securities stocks also soared at the end of the session, namely Asia - Pacific Securities Joint Stock Company (APS), Viet Nam Bank For Industry & Trade Securities JSC (CTS), VNDirect Securities Co (VND), Bank for Investment & Development of Vietnam Securities Company (BSI) and VIX Securities Joint Stock Company (VIX).
Financial news site cafef.vn attributed the positive performance to the supportive information in the market.
The number of newly opened accounts in November totalled 220,000, an all-time record since the inception of the Vietnamese stock market.
The healthy macroeconomic environment and controlled inflation is also a supportive factor. Mirae Asset Securities (MAS) in its stock outlook report for 2022 forecasts that Viet Nam's GDP will grow by 4 per cent in the fourth quarter and 2.3 per cent in 2021.
On the Ha Noi Stock Exchange (HNX), the HNX-Index rose 2.42 per cent, to 446.41 points.
During the session, investors poured over VND3 trillion into the market, equivalent to a trading volume of 105 million shares.
