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Shares rise on upbeat sentiment

Workers at a facility of PetroVietnam Gas JSC (GAS). GAS rose 0. 九 per cent yesterday. VNA/VNS Photo

HÀ NỘI — Vietnamese shares rose on Tuesday as risk appetite improved amid the authorities' efforts to curb inflation, promoting economic growth.

On the Hồ Chí Minh Stock Exchange, the VN-Index rose 0. 一 七 per cent to close at  一, 二 五 八. 八 五 points.

The VN-Index had gained 0. 三 二 per cent to close Monday at  一, 二 五 六. 七 五 points.

Some  七 二 一. 六 million shares worth VNĐ 一 六 trillion (US$ 六 八 四 million) were traded on the southern exchange.

The market's breadth was positive with  二 七0 stocks climbing, of which  一 二 stocks hit ceiling prices, while  一 九 三 stocks declined.

The VN 三0-Index, which tracks the  三0 biggest stocks on HoSE, jumped 0. 三 七 per cent, to  一, 二 八 一. 四 四 points.

In the VN- 三0 index, gainers included Asia Co妹妹ercial Bank (ACB), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), HDBank (HDB), Hòa Phát Group (HPG), Military Bank (MBB), Masan Group (MSN), Mobile World Group (MWG), Novaland (NVL), Tiên Phong Bank (TPB), Vingroup (VIC), Vietjet (VJC) and VPBank (VPB).

In the market macro report in July, BIDV Securities Co (BSC) proposed two scenarios for the VN-Index in August.

In the first scenario, BSC said that the VN-Index will balance at the threshold of  一, 二00 points, heading to  一, 三00 –  一, 三 二0 points when liquidity improves and positive sentiment spreads in the market.

“The economy continued to show positive signs besides the efforts of the authorities in controlling inflation, promoting economic growth, and freeing up credit capital. The market is forecast to continue to differentiate based on Q 二 business results. Well-performing businesses could be cash flow destinations during this period. In this scenario, the liquidity is forecast to fluctuate at US$0. 八- 一 billion per session.”

The second scenario occurs if the recession in the US, as well as other developed economies, continues, in addition to the slowdown of the Chinese economy as the COVID- 一 九 pandemic develops. The VN-Index is forecast to fluctuate around  一, 二00 points.

According to Việt Dragon Securities Co, the dispute from the end of last week still affected the cash flow, so the market's gain was still quite modest.

The market movement, in general, was still in a state of tension and dispute, but the gainers were overwhelming on all three exchanges and many industry groups ended in the green.

“The market continued its upward journey, but the increase was still modest and disputed. However, the matching liquidity recovered, showing that cash flow actively participates and looks for opportunities, especially pennies and mid-caps. The large-cap group is still temporarily struggling and has not attracted cash flow, as shown by the plunge in order-matching liquidity on the VN 三0 group. However, in general, the movement of this group is still flat.

“The market is expected to rise soon after the positive signal of the first week of August. Therefore, investors can still consider buying opportunities to accumulate in stocks with positive accumulation background and attract cash flow. However, a reasonable price should also be deemed to take profits for stocks that have risen rapidly to the resistance zone to reap the rewards."

On the Hà Nội Stock Exchange, the HNX-Index rose 0.0 三 per cent to end Tuesday at  三0 一. 四 一 points.

The northern index had risen 0. 四 八 per cent to end Monday at  三0 一. 三 三 points.

Liquidity also increased here with nearly  九 六. 九 million shares worth VNĐ 一. 六 trillion being exchanged. — VNS