The Vietnam stock market started well on Monday with the two main stock indices rising, with improved liquidity and increased net buying by foreign traders among blue-chips.
According to a report on VNS, on the Ho Chi Minh Stock Exchange (HOSE), the VN-Index closed Monday up 0.99 per cent at 978.04 points after gaining 0.92 per cent last week.
On the Hanoi Stock Exchange (HNX), the HNX-Index edged up 1.89 per cent to end Monday at 110.46 points. The northern market index inched up 2.66 per cent last week.
Liquidity improved significantly with a total of 273 million shares worth VNĐ5.9 trillion ($255.2 million) traded in the two markets, up 25 per cent in volume and 20 per cent in value compared to last week’s averages.
Market breadth was positive as gaining stocks outnumbered declining ones by 262 to 191, while 290 stocks were unchanged.
Large caps continued to lift the market. The VN30 basket, which tracks the top 30 shares by market value and liquidity on the HCM City’s exchange, advanced 1.23 per cent to close Monday at 960.02 points.
Financial stocks, especially bank and securities stocks, drove the market with prominent gainers including Asia Commercial Bank (ACB), Military Bank (MBB), Vietinbank (CTG), Saigon Hanoi Commercial Joint Stock Bank (SHB), Vietcombank (VCB), Techcombank (TCB) and TPBank (TPB), increasing between 1 per cent and 6.2 per cent.
A series of large-cap stocks also gained ground, such as Petro Vietnam Gas JSC (GAS), Masan Group (MSN), FLC Faros Construction Joint Stock Company (ROS), steel maker Hoa Sen Group (HSG) and budget airline Vietjet (VJC), supporting the market’s upswing.
Notably, GAS price returned to the 3-digit level when increasing 4.4 per cent to trade at VNĐ103,000 per share.
HSG hit the daily limit rise of 7 per cent after Hoàng Thị Xuân Hương, HSG’s Deputy General Director Hoàng Đức Huy’s sister, announced she would buy five million HSG shares.
Foreign investors were net buyers of VNĐ33 billion on the HOSE after being net sellers for 10 consecutive sessions.
According to Bảo Việt Securities Company (BVSC), the market is forecast to keep increasing amid positive liquidity and the lead of bank stocks.
BIDV Securities Company said in its daily report that the market was in a short-term uptrend and approaching to the 980-1,000 point range.
Investors can still disburse and seek profit in oil and banking stocks which have received large cash inflows.
On the Unlisted Public Company Market (UPCoM) where many State-owned enterprises are listed, the UP-Index closed up 0.51 per cent at 51.62 points.