Việt Nam News

Shares extend gains on the rise of multiple sectors

March 23, 2022 - 05:58

Vietnamese markets extended gains and ended higher on Tuesday, thanks largely to sharp rises in banking, securities, oil and fertiliser shares.

A PetroVietnam Gas worker operating equipment. The company shares gained 0.9 per cent Tuesday. — Photo pvgas.com.vn

HÀ NỘI — Vietnamese markets extended gains and ended higher on Tuesday, thanks largely to sharp rises in banking, securities, oil and fertiliser shares.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index rose 0.59 per cent to close the trading session at 1,503.78 points.

Nearly 948 million shares were traded on the southern exchange, worth VNĐ28.5 trillion (US$1.24 billion).

The 30 biggest stocks tracker VN30-Index climbed 0.71 per cent to 1,513.40 points.

Twenty-two stocks of the VN30 basket posted positive performance on Tuesday, while four slid and four ended flat.

Data compiled by financial news site cafef.vn showed that cash flow was moving into banking and securities stocks as there were many strong gainers such as Asia Commercial Bank (ACB), Eximbank (EIB), Military Bank (MBB), VPBank (VPB), Techcombank (TCB), Tiên Phong Bank (TPB), Maritime Bank (MSB), Kiên Long Commercial Joint Stock Bank (KLB), Agribank (AGR), Việt Nam Bank For Industry & Trade Securities JSC (CTS), Military Bank Securities Company (MBS), and Việt Capital Inc (VCI).

Oil and gas stocks also rose with gainers PetroVietnam Gas JSC (GAS), PetroVietnam Drilling and Well Services Corporation (PV Drilling or PVD), Petrochemical and Bio-Fuel JSC (PVB) and PetroVietnam Construction Co JSC (PVC).

Fertiliser and coal groups outperformed with DAP - VINACHEM JSC (DDV), Lâm Thao Fertilisers And Chemicals JSC (LAS), Petro Viet Nam Cà Mau Fertiliser JSC (DCM) and Đức Giang Chemicals Group JSC (DGC) all rising.

Coal stocks outperformed with many notable gainers such as Vinacomin - Hà Tu Coal JSC (THT), Vinacomin - Vietbac Mining Industry Holding Corporation (MVB), and Vinacomin - DeoNai Coal JSC (TDN).

Steel stocks, after a few minutes of weakness in the morning, also suddenly gained strongly at the end of the session. Some stocks like Hoà Phát Group (HPG), Hoa Sen Group (HSG) and Nam Kim Group (NKG), all moved up.

On the Hà Nội Stock Exchange, the HNX-Index closed Tuesday at 461.35 points, up 0.67 per cent.

During the session, nearly 134.2 million shares were traded on the bourse, worth over VNĐ3.8 trillion. — VNS

VN's food processing industry struggles to improve quality and value chain integration

Economy

Aviation stocks waiting for takeoff as businesses soar

Economy

Monetary policy forecast unlikely to loosen further

Economy

PM attends Dominican Republic-Việt Nam business dialogue in Santo Domingo

Economy

New decree on using telecommunications accounts for payment proposed

Economy

Việt Nam resolved to boost digital economy with national action plan

More on this story

Economy

Banks to pay dividends ahead of annual meetings

Shareholders are now focusing on news about bank dividends, especially as banks have been doing well throughout the past year despite the COVID-19 pandemic.

Economy

Việt Nam to focus on small agricultural processing businesses

Việt Nam was set to be in the top 10 deep processing centers of the world by 2030 however experts said if the Government’s solutions and mechanisms in policies were not implemented synchronously, this goal was hard.

Economy

Most firms not legally well-informed

Vietnam Competition and Consumer Authority (VCCA) and Japan International Cooperation Agency recently conducted a survey on small and medium firms to assess their awareness of Competition Law.

Economy

Vietnamese, Lao businesses work to speed up strategic cooperation projects

Vietnamese and Lao businesses discussed ways to speed up the implementation of large-scale Vietnamese-invested projects in Laos and seek new cooperation projects of strategic importance during a workshop in Vientiane on Monday.

Economy

Local enterprises should promote traceability: official

Domestic enterprises need to enhance the application of traceability technology and improve product quality assessment technology, said Trần Thanh Hải, deputy director of the Department Import and Export.

Economy

ETFs bullish about securities market

With more firms being added to portfolios in Q1, foreign Exchange Traded Funds (ETFs) are optimistic about Việt Nam’s securities market.

Economy

Low level of car production holds back Vietnamese auto part suppliers

50,000 vehicles per year is the minimum production level needed for the growth of the Vietnamese auto part industry. Unfortunately, few car producers in Việt Nam have reached such a level.

Economy

Việt Nam’s rapid loan growth impedes bank capitalisation drive

Low capitalisation levels are likely to remain a credit weakness for rated Vietnamese banks as rapid loan growth will make it challenging to raise capital adequacy ratios (CARs) in the next two to three years, according to Fitch Ratings.