Shares start week higher on real estate stocks
Shares start week higher on real estate stocks
Vietnamese markets had a good start on Monday thanks to the strong performance of real estate stocks.
On the Ho Chi Minh Stock Exchange (HoSE), the market benchmark VN-Index gained 0.87 per cent to end at 1,476.21 points.
The index gained 1.4 per cent last week.
The market's breadth was positive with 312 gainers and 145 losers.
As many as 866 million shares were traded on the southern bourse, worth nearly VND25.9 trillion (US$1.1 billion).
The VN30-Index, tracking the 30 biggest stocks on HoSE, rose 0.09 per cent, to end at 1,520.80 points. Nineteen out of 30 stocks in the VN30 basket posted gains, while nine decreased.
In the VN-30 basket, Khang Dien House (KDH) surged above 3 per cent and was the largest gainer in the group, followed by The Viet Nam Rubber Group (GVR) and Bank for Investment and Development of Vietnam (BID). Masan Group (MSN), Vinhomes (VHM), PetroVietnam Gas JSC (GAS), Phu Nhuan Jewelry (PNJ) and Vietjet (VJC) were the ones that gained more than one per cent. On the negative side, most banking codes reported losses; Tien Phong Bank (TPB) and HDBank (HDB) both fell over two per cent, VPBank (VPB) dropped more than one per cent.
A series of real estate stocks hit ceiling prices and strongly pushed up the indices, including FLC Group JSC (FLC), Nam Long Investment Corporation (NLG), Binh Duong Trade And Development JSC (TDC), Tu Liem Urban Development Joint-Stock Company (NTL), Development Investment Construction JSC (DIG), NBB Investment Corporation (NBB) and Sai Gon Thuong Tin Real Estate JSC (SCR).
Twenty-four out of 25 sector indices on the stock market posted gains, including IT, oil and gas, retail, seafood production, logistics, securities, insurance, wholesale and healthcare, rubber production, agriculture, and construction materials, and food and beverage.
The only losing sector was banking, pressured by VPBank (VPB), Tien Phong Bank (TPB), Vietcombank (VCB), HDBank (HDB), Saigon-Hanoi Bank (SHB), Techcombank (TCB), Eximbank (EIB) and Vietinbank (CTG).
On the Ha Noi Stock Exchange (HNX), the HNX-Index rose 0.51 per cent, to 457.56 points.
The index had increased 0.33 per cent last week.
During the session, investors poured over VND2.9 trillion into the market, equivalent to a trading volume of 108 million shares.
