Wednesday, July 26 2017

VietNamNews

VN Index up for fourth day running

Update: February, 16/2017 - 09:44
A man walks past screen showing stock movements at MB Securities. Vietnamese stocks gained for the forth day yesterday. - Photo bizlive.vn
Viet Nam News

HÀ NỘI — The VN Index on the HCM Stock Exchange conquered the resistance level of 710 points yesterday, driven by major large-cap stocks.

Việt Nam’s benchmark stock index added 0.8 per cent to close at 711.57 points. It has rallied a total 1.6 per cent over the last four trading days.

More than 169 million shares were exchanged yesterday on the southern bourse, worth VNĐ3.37 trillion (US$150 million), an increase of 3 per cent in trading value and a decline of 3.4 per cent in trading volume.

Eight of the 10 largest stocks by market capitalisation advanced, giving the market a boost, including Vietcombank, Faros Construction Corporation and dairy producer Vinamilk.

Real estate, banking, agriculture, information and technology, and rubber production sectors led the market.

Real estate shares recorded the highest growth rate, with the industry index rising 3.3 per cent, according to vietstock.vn.

Large-cap companies in the real estate sector such as Vingroup (VIC), Kinh Bắc City Development Holding Corp (KBC), HCM City Infrastructure Investment (CII) and Coteccons (CTD) all made gains.

Among the nine listed banks, Bank for Investment and Development of Việt Nam (BID) and Vietinbank (CTG) were two of the shares that made the highest gains. BID increased by 2.1 per cent and CTG jumped 3.5 per cent.

Two leading companies in the agriculture sector – Hoàng Anh Gia Lai JSC (HAG) and its arm Hoàng Anh Gia Lai Agriculture International (HNG) – remained attractive to investors following positive updates on their businesses.

According to Hoàng Anh Gia Lai’s latest financial report, lenders have agreed to extend the due date for VNĐ12-trillion bonds by three to six years, allowing the group more time to restructure the business.

In another development, Hoàng Anh Gia Lai’s general director Võ Trường Sơn told local media that the group is proceeding to sell its sugar production unit and hydropower plants in Laos, and the deals could be done in the first quarter of 2017.

At the end of the day, HAG jumped 4.3 per cent and HNG edged up 0.9 per cent. HAG was also the most active stock in trading with more than 10.2 million of its shares being traded.

On the Hà Nội Stock Exchange, the HNX Index inched up 0.1 per cent to end at 86.32 points, recovering from a fall of 0.3 per cent on Tuesday.

More than 40 million shares were exchanged in the northern market, worth VNĐ416.5 billion. — VNS

 

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