Shares advance on blue-chips and industrial real estate stocks

November 19, 2020 - 08:57

Vietnamese shares were lifted on Wednesday thanks to gains from blue-chips and industrial real estate stocks.

Workers of the Vietnam Rubber Group JSC (GVR) harvest rubber latex. GVR rose 6.1 per cent on Wednesday. — Photo

HÀ NỘI — Vietnamese shares were lifted on Wednesday thanks to gains from blue-chips and industrial real estate stocks.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 0.48 per cent to close at 973.53 points.

The index had climbed 1.9 per cent to close Tuesday's session at 968.9 points.

Nearly 479 million shares were traded on the southern exchange on Wednesday, worth VNĐ10 trillion (US$432 million).

Gaining stocks dominated the southern bourse, outnumbering decliners by 244 to 176, showing investor confidence was high.

The VN30 Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, rose 0.32 per cent to end Wednesday at 937.67 points.

Large-cap stocks performed well such as the Vietnam Rubber Group JSC (GVR), up by 6.1 per cent to VNĐ19,000 per share, PetroVietnam Gas JSC (GAS), rising by 6 per cent to VNĐ80,000 per share, and Vinamilk (VNM), gaining by 1.7 per cent to VNĐ109,400 per share.

The industrial real estate group continued to attract good cash flow with many strong gainers such as Nam Tân Uyên JSC (NTC), Phước Hoà Rubber Co (PHR), Long Hậu Corporation (LHG) and Phú Mỹ 3 Specialised Industrial Park (SIP).

“Market liquidity increased strongly, the market margin was positive and market breadth narrowed, showing that positive sentiment still dominates trading activities during the session,” said BIDV Securities Co.

“The remarkable point in today's session was that foreign investors were net buyers on HOSE and focused mainly on Vingroup (VIC), Vinamilk (VNM), Vincom Retail (VRE) and Vietcombank (VCB).

“This net buying trend, if prolonged, will help the market maintain the uptrend above 970 points,” the company said.

Foreign investors net bought VNĐ459.17 billion on HOSE. They were net sellers on the HNX with the value of VNĐ15.83 billion.

Across the stock market, 15 out of 25 sectors indices gained ground, including energy, seafood processing, construction materials, plastics and chemical production, wholesale, insurance, securities, healthcare, food and beverage, real and construction.

On the other side, decliners were real estate, information and technology, banking and retail.

On the Hà Nội Stock Exchange, the HNX-Index increased 0.15 per cent to close Wednesday at 146.8 points.

More than 63.5 million shares were traded on the northern exchange, worth more than VNĐ1 trillion. — VNS