Việt Nam News

Shares gain on banking and steel stocks

February 08, 2022 - 18:45

Vietnamese shares rose on Tuesday, bolstered by market heavyweights as demand force increased significantly towards the closing minutes of trading, especially in steel and banking group.

Inside a factory of steelmaker Hoà Phát Group (HPG). HPG rose 5.8 per cent on Tuesday. — Photo courtesy of HPG

HÀ NỘI — Vietnamese shares rose on Tuesday, bolstered by market heavyweights as demand force increased significantly towards the closing minutes of trading, especially in the steel and banking groups.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) increased 0.22 per cent, to finish the trading day at 1,500.99 points.

The index had climbed 18.7 points, or 1.26 per cent, ending Monday at 1,497.66 points.

The market breadth was negative as 169 stocks declined while 282 rose and 52 ended flat.

The market’s liquidity was lower than the previous session with nearly 735 million shares traded on the southern market, worth VNĐ22.6 trillion (US$995 million).

The steel stock group attracted cash flow and increased sharply, with giant steelmaker Hoà Phát Group (HPG) soaring 5.8 per cent, thereby contributing nearly 3 points to the increase of the VN-Index. Hoa Sen Group (HSG), Nam Kim Group (NKG), Pomina Steel Corporation (POM) and Tiến Lên Steel Group Joint Stock Company (TLH) all hit the ceiling prices.

Banking stocks also performed positively, such as Orient Commercial Bank (OCB), Asia Commercial Bank (ACB), Vietinbank (CTG), Vpbank (VPB), Techcombank (TCB), HDBank (HDB) and Sacombank (STB). But there were still some losers in the group like Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID) and Eximbank (EIB)

The securities group recorded strong divergence. Việt Nam Bank For Industry & Trade Securities JSC (CTS), Bank for Investment & Development of Vietnam Securities Company (BSI), Bank for Investment & Development of Vietnam Securities Company (EVS), Saigon-Hanoi Securities Co (SHS), FPT Securities JSC (FTS) and Thành Công Securities Company (TCI) all ended up gaining. In contrast, VNDirect Securities Inc (VND), SSI Securities Inc (SSI), APG Securities JSC (APG), VIX Securities Joint Stock Company (VIX) and Viet Dragon Securities Corporation (VDS) all declined.

The 30 biggest stocks tracker, VN30-Index, climbed 0.60 per cent to finish at 1,550.46 points.

Of the VN30 basket, 15 stocks increased while 13 decreased, while two ended flat.

Meanwhile, on the Hà Nội Stock Exchange (HNX), the HNX-Index gained 0.22 per cent to close at 417.89 points.

The northern market index had also edged up 2.6 points, or 0.62 per cent, to end Monday at 419.22 points.

During the session, over 59 million shares were traded on HNX, worth VND1.6 trillion. — VNS

MM Mega Market recognised among the 'Top 100 Best Places to Work in Việt Nam 2024'

Economy

Green lifestyle changes drive people towards ethanol fuel

Economy

World Bank outlines path for Việt Nam to reach high income status

Economy

Việt Nam vows to create favourable conditions for Korean investors

Economy

Aeon Mall to be built in Cần Thơ City

Economy

Cyberattack risks surge with AI advancements

More on this story

Economy

PVGAS Trading imports 30 tonnes of refrigerated LPG

PetroVietnam Gas Trading Co (PVGAS Trading) on February 7 completed the pipe connection, importing the first ship of refrigerated LPG for floating storage on the first working day after the Tết (Lunar New Year) holiday.

Economy

Tourism companies recover thanks to restructuring

In the past two years, the impact of COVID-19 has hit listed tourism companies’ activities hard, leading to persistent losses and some stocks being given a warning status, and even risk being delisted. However as many businesses turn to restructuring operations, their results have become more positive.

Economy

Vĩnh Long targets to restore all business activities this year

The Cửu Long (Mekong) Delta province of Vĩnh Long targets resumption of all business activities this year, according to its authorities.

Economy

Việt Nam salt industry must adapt: official

The local salt industry must understand the needs of the market, develop standards and guidelines for farmers, and reorganise production, said Lê Đức Thịnh, director of the Department of Cooperatives and Rural Development under the Ministry of Agriculture and Rural Development (MARD).

Economy

Tết economics: one or two holidays?

The essence of the problem is not how long the holiday is but a solution to increase productivity, and thinking of "long break", "spring play" which only exists in backward agricultural production should be eliminated.

Economy

Hoa Sen Group posts US$28.2 million after-tax profit in Q1

Hoa Sen Group has reported an after-tax profit of VNĐ638 billion (US$28.2 million) in the first three months of its financial year 2021-22 starting from October, increasing 12 per cent from the same period last year.

Economy

Việt Nam working to become innovation magnet in Southeast Asia

The COVID-19 pandemic, which has touched every aspect of society, has failed to cool down the startup and innovation spirit but, on the contrary, created major influence, contributing to economic development and recovery, according to insiders.

Economy

VN-Index inches closer to 1,500 points after Tết holidays

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index climbed 18.7 points, or 1.26 per cent, to 1,497.66 points, heading toward the 1,500 point-level.

Economy

First locally-made tablets roll off production line in Đà Nẵng

The first locally-made Xelex tablets have rolled off the production lines of the Trung Nam Electronic Manufacturing Services in Đà Nẵng's IT Park, just two months after an agreement for the production of 100,000 tablets between Trung Nam Group and Xelex Corporation was signed.