|Steel maker Hòa Phát Group gained 3.9 per cent to VNĐ22,400 per share and matched 9.5 million shares on Thursday. — VNA/VNS Photo|
HÀ NỘI — Shares kept their upward trend on Thursday trading as cash flow continued to pour in ‘Vin’ stocks and many other large-caps.
On the Hồ Chí Minh Stock Exchange, the VN-Index rose 0.66 per cent to 994.95 points.
The index lost 0.11 per cent to close at 988.41 points on Wednesday.
A total of 171.7 million shares worth VNĐ4.5 trillion (US$192 million) were traded in the southern market.
‘Vin’ stocks were on the upswing Thursday, pulling up the market indices. Vingroup (VIC) closed the session up 1 per cent to VNĐ123,200 per share. At this price, VIC has reached its all-time peak, surpassing its previous record on March 18 of VNĐ121,300 per share.
Vinhomes JSC also climbed 2 per cent to close at VNĐ87,500 per share. Vincom Retail (VRE) rose 0.4 per cent to close at VNĐ37,500 per share.
The market also received strong push from other pillar stocks such as brewery Sabeco (SAB) and Hòa Phát Group (HPG). HPG gained 3.9 per cent to VNĐ22,400 per share and matched 9.5 million shares on Thursday.
HPG’s revenue reached VNĐ15.3 trillion in the second quarter, up 6 per cent compared to the same period of 2018. Profit after tax reached VNĐ2 trillion, down 7 per cent.
Most of the sectors increased Thursday. Real estate stocks went up 1.17 per cent, thanks to the increase of Vingroup stocks and Nam Long Investment Corporation (NLG), Hà Đô Group JSC (HDG) and Development Investment Construction Group (DIG).
Oil and gas stocks gained 0.68 per cent, owing to large-cap stocks PetroVietnam Gas JSC (GAS), Bình Sơn Refining and Petrochemical Company (BSR) and PetroVietnam Power Corporation (POW).
Bank stocks also rose 0.51 per cent, thanks to Bank for Investment and Development (BID), Sài Gòn-Hà Nội Bank (SHB), Vietcombank (VCB) and Asia Commercial Bank (ACB).
Foreign investors were the net buyers for the eighth consecutive session on HoSE with more than VNĐ38 billion.
According to Bảo Việt Securities Company (BVSC), VN-Index is forecast to continually improve in several sessions. However, the market may incur strong volatility in the remaining session of the week.
The market’s current trend is rated positive with expectation of VN-Index heading toward strong 1,000-points resistance zone in the short run with the support from foreign investors’ net buying activities, BVSC said.
However, several stocks are facing increasing profit-taking pressure. The market will be continuously diverged, it said.
Bank and large-cap stocks, including Vingroup (VIC), Vinhomes (VHM), Vincom Retail (VRE), Vietjet Air (VJC) and PetroVietnam Gas JSC (GAS), will likely increase and dominate the index.
Stock exposure should be maintained at 50-60 per cent of the portfolio. Investors with high stock exposure may consider selling stocks at 995-1,000-point zone, BVSC said.
The large-cap VN30-Index was up 0.34 per cent to 890.41 points. Fourteen of the top 30 largest shares by market value and liquidity gained and 12 declined.
On the Hà Nội Stock Exchange, the HNX-Index increased 0.30 per cent to 106.76 points.
The index had fallen 0.56 per cent to 106.12 points on Wednesday. — VNS