Tuesday, November 21 2017

VietNamNews

VN Index up for 7th day

Update: January, 10/2017 - 09:00
Trading session at the HCM Stock Exchange. The benchmark VN Index yesterday rallied for a seventh consecutive day. — VNA/VNS Photo Thanh Vũ
Viet Nam News

HÀ NỘI — Shares extended rallies on the two local exchanges yesterday, driven by finance-banking and energy stocks.

The benchmark VN Index on the HCM Stock Exchange edged up 0.4 per cent to close at 682.57 points. The southern bourse index has gained a total 2.9 per cent in the last seven sessions.

The HNX Index on the Hà Nội Stock Exchange rose 0.7 per cent to end at 82.7 points, increasing a total 1.7 per cent in the last two trading days.

Nearly 128 million shares were exchanged yesterday on both bourses, worth VND2.85 trillion (US$126.77 million).

Bank stocks continued to lift the market, with six of the nine listed banks making good gains. Asia Commercial Bank (ACB) performed the best among those six bank stocks, jumping 3.5 per cent yesterday.

Other large-cap banks, such as Bank for Investment and Development of Viet Nam (BID), Vietcombank (VCB), Vietinbank (CTG) and Sacombank (STB) rose between 2.1 per cent and 2.9 per cent.

BID was also the most active stock, with more than 6.1 million of its shares traded, followed by Hoàng Anh Gia Lai Corp (HAG) and property developer FLC Group (FLC).

Energy stocks were also positive, driven by gains of PetroVietnam Coating Corp (PVB), PetroVietnam Mud Drilling Corp (PVC) and PetroVietnam Technical Services Corp (PVS). PVB added 1 per cent, PVC advanced 1.2 per cent and PVS rose 2.9 per cent.

The brokerage sector also did well yesterday, driven up by Sài Gòn-Hà Nội Securities Corp (SHS), Sài Gòn Securities Inc (SSI) and BIDV Securities Inc (BSI).

The Ha Noi Stock Exchange announced yesterday that SHS and SSI brokerage firms had the biggest market shares on the northern bourse. SHS yesterday surged 8.8 per cent and SSI rose 1 per cent.

On the flip side, Sài Gòn Beer, Alcohol and Beverage Corp (SAB) and Sài Gòn-Hà Nội Bank (SHB) were the major factors that prevented the national stock market from rising higher.

SAB fell 0.5 per cent and SHB dropped 2.1 per cent. SAB had gained 4.5 per cent in the previous two days and SHB retreated from a 4.3 per cent jump on Friday.

According to SHS, the VN Index may rise to test the resistance mark of 684 points in the next session, and the nearest support level for the benchmark would be 677 points. — VNS

 

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