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Shares rise on positive outlook

Investors follow transactions at ACB Securities Company in Hà Nội. - VNS Việt Thanh

HÀ NỘI – Shares rose for a second day yesterday on the two exchanges as investors were optimistic about the market outlook and earnings prospects of listed companies.

The benchmark VN-Index on the HCM Stock Exchange was up over  一 per cent to close yesterday’s trade at  六 八 八. 九 points. It rose 0. 二 per cent on Tuesday.

On the Hà Nội Stock Exchange, the HNX-Index added 0. 六 per cent to end at  八 五. 五 points.

Blue chips continued their market momentum, with  一 九 of the biggest  三0 shares by market capitalization gaining value.

Financial and bank stocks were the biggest gainers yesterday as the highest valued stocks like Vietcombank (VCB), BIDV (BID), Vietinbank (VCB), Sacombank (STB), Asia Co妹妹ercial Bank (ACB), Sài Gòn-Hà Nội Bank (SHB), HCM Securities Co (HCM), Saigon Securities Inc (SSI) and insurer Bảo Việt Holdings (BVH) all increased.

Sài Gòn-Hà Nội Bank hit the daily limit rise of  一0 per cent on the Hà Nội Stock Exchange after the news that sister of the bank’s chairman registered to buy  二0 million SHB shares.

Lender BIDV increased  四. 一 per cent yesterday on investor expectation in the bank’s extraordinary shareholders’ meeting this Sunday. Others rose between 0. 七 per cent and  二. 一 per cent each.

“Return of money inflows in large-cap stocks not only helped lift the VN-Index but consolidated investor confidence in a longer market rise,” analysts at Vietnam Investment Securities Co wrote in a report.

However, the market needed more solid momentum from strong rises in both volume and value to speed up the market uptrend, they said.

Besides blue chips, many low-valued stocks also attracted investor attention such as real estate developer FLC Group (FLC), Quảng Nam Rubber Investment JSC (VHG), Hoàng Huy Investment Services JSC (HHS), PetroVietnam Construction JSC (PVX) and Sài Gòn Thương Tín Real Estate JSC (SCR).

They were all among the top  五 most active codes on the two markets.

Liquidity increased with  一 九 九. 四 million shares worth more than VNĐ 三. 六 trillion (US$ 一 六 一. 四 million) traded in the two exchanges, up  八. 四 per cent in volume and  二0 per cent in value compared to Tuesday’s levels.

Foreign investors returned to be net buyers in the two markets yesterday after two net selling sessions. They purchased shares worth a combined net value of VNĐ 四 五. 六 billion. – VNS