Wednesday, October 28 2020

VietNamNews

Blue chips bring VN-Index to three-month high

Update: September, 04/2020 - 06:29

 

A HDBank office in Hà Nội. The bank shares jumped 4.6 per cent on Thursday. — VNA/VNS Photo Trần Việt

HÀ NỘI — Vietnamese shares rose to a three-month high on Thursday after taking the single-day national holiday break as market sentiment soared to drive large-cap stocks up.

The benchmark VN-Index rose 1.37 per cent to 903.97 points, setting a new high since peaking at 900 points on June 10.

The VN-Index has rallied a total of 3.5 per cent in the last five trading days since August 26.

Large-cap stocks were the major boost of the local market as the blue-chip tracker VN30-Index increased by 1.4 per cent to 843.64 points.

The VN30 futures due on September 20 gained 1.5 per cent to 850 points on Thursday.

The positive performance of large-cap stocks boosted the mid-cap and small-cap groups up 0.7 per cent and 0.16 per cent, respectively.

In the large-cap VN30 basket, 25 of the 30 largest stocks by market capitalisation and trading liquidity increased while four declined.

Gainers in the large-cap group included HDBank (HDB), PetroVietnam Power (POW), Vietcombank (VCB), Vincom Retail (VRE), brewer Sabeco (SAB), Vingroup (VIC), short-haul carrier Vietjet (VJC) and consumer firm Masan (MSN).

The banking, property and consumer sectors advanced 2.1 per cent, 1.2 per cent and 1.1 per cent, respectively, according to vietstock.vn.

HDBank's shares jumped 4.6 per cent to end Thursday at VNĐ29,800 apiece. The HCM City-based lender recently announced its audited Q2 financial report.

The bank’s pre-tax profit in the second quarter gained 31.5 per cent year-on-year to VNĐ2.9 trillion and return-on-equity (ROE) and return-on-asset (ROA) ratios added 1.6 per cent and nearly 0.4 per cent, respectively.

On the Hà Nội Stock Exchange, the HNX-Index hobbled up, rising 0.51 per cent to 126.05 points.

The northern market index has increased by a total of 0.96 per cent in the last two trading days.

Nearly 425.4 million shares were traded on the two exchanges, worth VNĐ8.24 trillion.

Foreign investors net-bought more than VNĐ377 billion worth of local shares. They net-sold nearly VNĐ200 billion on Tuesday.

“Technically, large-cap stocks have performed better in the last two days to lift the market and the signals become clearer for the market’s further growth,” MB Securities Co (MBS) said in its daily report.

“Technical indicators and the progress of the global stocks will be strong support for the domestic market in the coming days,” the company said. — VNS

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