Market extends gains for a fourth day

May 18, 2024 - 06:49
VN-Index surpasses 1270 points


Image of a pig farm. Pig farming stocks soared on Friday. — VNA/VNS photo

HÀ NỘI — Benchmark indices extended gains on Friday, with the VN-Index crossing 1270 points, while many pig farming stocks rose sharply.

On the Hồ Chí Minh Stock Exchange (HoSE), the benchmark VN-Index increased 4.33 points, or 0.34 per cent, to 1,273.11 points. This marked a fourth consecutive day of gains.

Throughout most of the day, the VN-Index traded above the reference level, maintaining a relatively stable range and closing the session higher.

The market's breadth was positive as the number of gainers surpassed that of losers by 189 to 118. Liquidity on the southern bourse still remained high with more than VNĐ23 trillion (US$904 million) in transaction value, equivalent to a trading volume of 937 million shares.

The VN30-Index, which tracks the 30 biggest stocks on the HoSE, increased 1.88 points or 0.14 per cent, to 1,310.15 points. In the VN30 basket, 14 stocks ticked up, 12 inched down and four ended flat.

Data compiled by a financial website showed that Masan Group Corporation (MSN) was the biggest gainer on the market and led the market's trend in terms of capitalisation. Shares of the food and beverage producer rose by 4.28 per cent. Vietnam Rubber Group JSC (GVR) shares were up 2.46 per cent, Lien Viet Post Bank (LPB) soared 5.45 per cent.

Pig farming stocks were also notable risers on Friday. Led by Hoang Anh Gia Lai JSC (HAG) and BAF Viet Nam Agriculture JSC (BAF), both stocks hit ceilings, up 6.96 and 6.76 per cent, respectively.

On the downside, banking stocks were the biggest losers after Thursday’s gains. The Bank for Foreign Trade of Vietnam (VCB) was the biggest loser, followed by the Bank for Investment and Development of Vietnam (BID) and the Military Commercial Joint Stock Bank (MBB).

Not only did bank stocks weaken fast, many other top-cap stocks also moved into negative territory. FPT Corporation (FPT) decreased by 0.66 per cent, PetroVietnam Gas Joint Stock Corporation (GAS) decreased by 0.26 per cent and Viet Nam Dairy Products Joint Stock Company (VNM) decreased by 0.3 per cent.

On the Hà Nội Stock Exchange (HNX), the HNX-Index also finished higher on Friday. It rose 0.63 per cent, to 241.54 points, the twelfth consecutive positive trading session.

During the day more than VNĐ2.1 trillion worth of shares, equivalent to a trading volume of more than 107 million shares, were traded on the northern market.

Foreign investors returned to sell a strong net of VNĐ794.6 billion on HoSE. Over the week foreign investors withdrew another VNĐ2.1 trillion with HoSE shares. — VNS