Economy
Stock market continues to consolidate amid cautious sentiment
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| Investors at the trading platform of ACB Securities Company. The benchmark VN Index on Thursday rallied for a fifth day to touch a new nine-year high. — VNS Photo Trương Vị |
Viet Nam News
HÀ NỘI — The VN Index on the HCM Stock Exchange rallied for a fifth session on Thursday as investor confidence was bolstered by positive earnings reports from listed companies.
The benchmark index advanced 0.9 per cent to close the first trading day of the new lunar year at a new nine-year high of 703.18 points. It has rallied a total of 3 per cent after the last five sessions.
Market trading liquidity fell from the previous session with more than 86.4 million shares being traded, worth VNĐ2.06 trillion (US$91.84 million). The figures were 12 per cent and 1.6 per cent lower in trading volume and value, respectively.
The southern market was lifted after listed companies such as private equity firm Masan Group (MSN), Eximbank (EIB), Bank for Investment and Development of Việt Nam (BID) and HCM City Infrastructure Investment JSC (CII) announced their 2016 profits.
MSN gained 2.3 per cent after Masan reported that its revenue for 2016 increased 41 per cent year on year to nearly VNĐ43.3 trillion and net profit rose 44 per cent from 2015 to VNĐ4.54 trillion.
EIB surged 7 per cent after the bank recorded a net profit of VNĐ308.9 billion for 2016, which was nearly eight times that of 2015, thanks to VNĐ150 billion profit made in the fourth quarter last year.
CII added 2 per cent after the southern infrastructure developer released its 2016 financial report. Last year, the company recorded a post-tax profit of VNĐ1 trillion, which increased 28 per cent over the previous year and exceeded last year’s target by 20 per cent.
Other blue chips also made gains to support the market. PetroVietnam Gas edged up 0.7 per cent as oil prices remained positive on global trading.
Brent crude rose 0.8 per cent to trade at $57.25 a barrel, lifting its gain to a third day with total growth of 3.6 per cent.
On the Hà Nội Stock Exchange, the HNX Index inched up 0.2 per cent to finish at 84.64 points. The northern market index has increased by total 2 per cent in the last three days.
More than 16.6 million shares were traded on the northern bourse, worth VNĐ172.25 billion. The trading figures fell 39 per cent and 35 per cent, respectively, compared to the previous session. — VNS
