Tuesday, May 23 2017

VietNamNews

Shares rise higher, led by property and energy

Update: May, 13/2017 - 01:00
Investors watch market movements at MB Securities Company. - VNS Photo Trương Vị
Viet Nam News

HÀ NỘI — Shares advanced in both local markets on Friday, driven by property developers and energy companies.

The benchmark VN Index on the HCM Stock Exchange was up 0.05 per cent to close at 725.37 points. Việt Nam’s key market index has rallied total 0.9 per cent after the last four sessions.

The HNX Index on the Hà Nội Stock Exchange gained 0.54 per cent to end at 90.39 points, reversing a two-day decline of 0.5 per cent.

The VN Index has increased by total 0.7 per cent and the HNX Index by 0.8 per cent compared to the previous week’s levels.

More than 242.6 million shares were exchanged on both local bourses, worth nearly VNĐ5.2 trillion (US$230.6 million).

Large-cap stocks were mixed with half of the 30 largest companies by market capitalisation rising, including steelmaker Hoa Sen Group (HSG), dairy producer Vinamilk (VNM), insurance finance group Bao Viet Holdings (BVH) and DHG Pharmaceutical (DHG).

Real estate and energy industries were the key sectors that pushed the stock market up on Friday, with their sector indices gaining 0.5 per cent and 1 per cent, respectively, according to vietstock.vn.

The property sector was boosted by FLC Group (FLC), Hoàng Quân Consulting-Trading-Service Real Estate (HQC), Kinh Bắc City Development Holding (KBC) and Phát Đạt Real Estate (PDR).

Those stocks advanced between 0.4 per cent and 2.8 per cent.

Investor confidence in energy stocks was bolstered as oil prices recorded a third-day increase on expectations for an extension of the output cut deal between OPEC and other producers.

Brent crude was traded at $50.7 a barrel, up 4 per cent from Tuesday’s level.

Speculative stocks also performed well such as Hoang Anh Gia Lai (HAG) and Hoang Anh Gia Lai Agriculture International (HNG), which gained 1.6 per cent and 1.4 per cent, respectively.

Other sectors that saw companies’ share prices move forward included garment and textile, plastic production, food and beverage, information and technology and retail.

On the opposite side, banks, securities firms and rubber producers fell on profit-taking and prevented the market from rising higher.

Two-thirds of the nine listed banks lost steam, including MBBank (MBB), Sacombank (STB), Vietcombank (VCB) and Sài Gòn-Hà Nội Bank (SHB).

Among brokerage firms, losses were found in Sài Gòn Securities (SSI), MB Securities (MBS), Bảo Việt Securities (BVS) and BIDV Securities (BSI). — VNS

 

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