|TPBank's head office in Hà Nội. TPB rose 5 per cent on Monday. — VNA/VNS Photo Trần Việt|
HÀ NỘI — The market rose strongly on Monday with the VN-Index reaching 1,400 points as investors poured money into blue-chip stocks.
On the Hồ Chí Minh Stock Exchange (HoSE), the market benchmark VN-Index rose 1.13 per cent to 1,405.81 points. The market's breadth was positive as 157 stocks declined while 228 climbed.
Market liquidity stayed higher than the previous session with some 700 million shares traded on the southern market, worth over VNĐ23.2 trillion (US$1 billion).
“VN-Index maintained its gaining momentum throughout Monday's session. The index climbed sharply, especially in the second half of the morning session,” said financial news site vietstock.vn.
“In the afternoon, the rally narrowed slightly at the beginning, but buyers still poured cash in and helped the index gain more than 15 points and continue to reach a new high,” it said.
The VN30-Index rose 1.41 per cent to close at 1,521.41 points. The gain was boosted by some large-cap stocks as 21 of the 30 biggest stocks in the VN30 basket rose, while six decreased.
In the VN-30 group, Tiên Phong Bank (TPB) gained most with 5 per cent. Techcombank (TCB), Hòa Phát Group (HPG), Bank for Investment and Development of Vietnam (BID) and Vinhomes (VHM) all jumped more than 3 per cent.
Bảo Việt Holdings (BVH), Thành Thành Công – Biên Hòa JSC (SBT), Military Bank (MBB), Sacombank (STB), Masan Group (MSN) and HDBank (HDB) were among those that advanced above 2 per cent.
On the other side, Vingroup (VIC), Vinamilk (VNM), Phát Đạt Real Estate (PDR), VPBank (VPB) and Vietjet Air (VJC) were among the losers of the group.
Construction materials, plastic and chemical manufacturing and insurance were the industries with growth of more than 2 per cent on the first day of the week.
Construction materials was led by Vicem Hải Vân Cement Joint Stock Company (HVX) and Nam Kim Group (NKG). Pha Le Plastics Manufacturing and Technology Joint Stock Company (PLP) and An Phát Bioplastics JSC (AAA) also gained strongly.
Most of the insurance stocks increased. Post - Telecommunication Joint - Stock Insurance Corporation (PTI) led the group with more than 3 per cent, followed by Bảo Việt Holdings (BVH), Petrolimex Insurance Corporation (PGI) and BIDV Insurance Corporation (BIC) with an increase of above 2 per cent.
On the Hà Nội Stock Exchange (HNX), the HNX Index gained 1.53 per cent to 323.10 points.
Nearly 130.5 million shares were traded on the northern exchange, worth VNĐ3 trillion. VNS