Indices gain on aviation stocks

March 10, 2023 - 04:45
Aviation stocks soared after China resumed tours to Việt Nam, starting from March 15.
A Vietjet office in Hà Nội. The low-cost carrier's shares jumped 3.56 per cent on Thursday after news that China announced it would resume tours to Việt Nam in mid-March. VNS Photo Ly Ly Cao

HÀ NỘI — Shares continued their uptrend on Thursday and are on track to set a weekly gain, boosted by higher liquidity and recent positive news.

The market's benchmark on the Hồ Chí Minh Stock Exchange (HoSE) rose 6.77 points, or 0.65 per cent, to 1,055.95 points. It extended the recent rally trend to the fourth straight session.

The breadth was positive with 216 stocks gaining points, while 101 ticker symbols declined. Liquidity also improved, of which the trading value on the southern bourse increased by 26.2 per cent over the previous session to nearly VNĐ10.73 trillion (US$452.5 million). The value was equivalent to a trading volume of nearly 509 million shares.

The VN30-Index finished the trading day at 1,050.28 points, a rise of 9.69 points, or 0.93 per cent. Nineteen of the 30 biggest stocks in the VN30 basket reported bullish performance, while five stocks hit lower and six were flat.

On the Hà Nội Stock Exchange (HNX), the southern market's benchmark index also edged higher for the fourth session in a row. Accordingly, it closed Thursday at 209.03 points, up 0.35 points, or 0.17 per cent.

During the session, nearly 57 million shares were traded on HNX, worth VNĐ877.04 billion.

Leading the bullish trend were banking and manufacturing stocks. Specifically, Vietcombank (VCB) was the biggest gainer with an increase of 0.87 per cent in market capitalisation. It was followed by Vietnam Rubber Group (GVR) and Sacombank (STB), up 4.48 per cent and 4.54 per cent, respectively.

Aviation stocks got a boost on Thursday after China added Việt Nam to the list of countries approved for outbound tours, starting from March 15. Shares of Vietjet Aviation (VJC) soared 3.56 per cent, while Vietnam Airlines (HVN) logged the maximum intraday gain of 7 per cent.

Also supporting the market's uptrend, pillar stocks including Techcombank (TCB), PV Gas (PVG), FPT Corporation (FPT), Asia Commercial Joint Stock Bank (ACB), and Vietnam International Commercial Joint Stock Bank (VIB), witnessed strong rallies, up in a range of 0.85-2.42 per cent.

The market's sentiment was lifted this week after the Government issued a decree to strengthen the bond market, and the Fubon ETF fund plans to disburse capital into the Vietnamese market.

Foreign investors continued to inject capital into the market on Thursday, supporting the rally trend. Of which, they net bought VNĐ192.61 billion on HoSE and VNĐ4.93 billion on HNX. — VNS