VN-Index ends week-long gain with high liquidity
VN-Index ends week-long gain with high liquidity
Shares on the Hồ Chí Minh Stock Exchange witnessed consistent gains throughout the week, with the VN-Index rising 0.26 per cent to close Friday at 1,168.40 points as investors' confidence in the market uptrend was strengthened.
Việt Nam’s benchmark has gained 2.64 per cent this week.
Liquidity increased sharply, with more than one billion shares worth nearly VNĐ21 trillion (US$886 million) being traded, up 29 per cent in volume and 25 per cent in value compared to the previous session.
Market breadth was positive as 18 out of 25 stock groups gained value as per data tracked by vietstock.vn. Financial stocks excluding banking, securities and insurance led the gain with an average growth of 3.3 per cent, followed by information communication technology (ICT), up 2.7 per cent on average, and securities, construction material, logistics and consulting services each rising more than 1 per cent on average.
FPT Corp (FPT) was the biggest contributor to the VN-Index, rising 3.3 per cent to VNĐ78,300 ($3.30) a share, after the software giant reported big earnings in the first half.
It reported a revenue of VNĐ24.1 trillion (over $1 billion) and pre-tax profit of VNĐ4.3 trillion in the first six months, an increase of 22 per cent and 19.3 per cent, respectively, year-on-year.
Steel giant Hòa Phát Group (HPG) came second in the top 10 most influential stocks in HCM City’s bourse with a growth of 1.7 per cent. Vietjet (VJC) followed with an increase of 3.2 per cent.
“Although there was a state of hesitation and struggle during the session, the market continued to maintain a series of gaining sessions and many sectors were in the green,” Phương Nguyễn, a stock analyst at Viet Dragon Securities Co, wrote in a note.
However, according to its technical analysis, Phương said the bullish candle was not really strong yet and it is still possible to expect the market’s ability to increase, but the movement will be slow and there will be a state of contention between supply and demand.
On the Hà Nội Stock Exchange, the HNX-Index edged up 0.1 per cent to end at 230.19 points.
Nearly 110 million shares worth VNĐ1.6 trillion were traded here, up 6 per cent in volume but down 6 per cent in value compared to Thursday’s levels.
Foreign traders concluded the session as net sellers in HCM City for a net value of VNĐ310 billion but they were net buyers in Hà Nội for a smaller value of VNĐ34 billion.
