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VN-INDEX 1,172.36 +3.00/+0.26%
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Banks and food drive VN stocks
Source: VNS - 3/22/2017 9:29:38 AM
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Vietnamese shares remained upbeat on Tuesday, driven by banks and food and beverage producers.

The benchmark VN Index on the HCM Stock Exchange inched up 0.2 per cent to close at 716.18 points. The southern market index gained a total of 0.8 per cent in the last two sessions.

The HNX Index on the Hà Nội Stock Exchange advanced 1.2 per cent to finish at 90.13 points, extending its rally for a sixth day with a total growth of 3.6 per cent.

Market trading liquidity increased from Monday’s level with more than 287 million shares being exchanged, worth VNĐ5.32 trillion (US$236.48 million).

The banking sector had the strongest growth yesterday, up an aggregate of 2 per cent with eight of the nine listed banks making gains.

Asia Commercial Bank (ACB), Bank for Investment and Development of Việt Nam (BID) and Eximbank (EIB) jumped 4.6 per cent, 3.9 per cent and 3.5 per cent, respectively.

Other bank stocks rose between 1.1 per cent and 2.3 per cent, including Vietcombank (VCB), MBBank (MBB), Vietinbank (CTG) and Sacombank (STB).

The food and beverage sector was pulled up by good performance by dairy producer Vinamilk (VNM) and consumer goods producer Masan Group (MSN). VNM added 1.3 per cent and MSN increased by 2.6 per cent.

The stock market also recorded good gains in other large-cap companies, such as steel maker Hòa Phát Group (HPG), property developer FLC Group (FLC) and Faros Construction Corp (ROS).

FLC yesterday surged 6.9 per cent to extend its gain to a third day with total growth of 8.1 per cent. FLC in 2016 recorded a post-tax profit of VNĐ987 billion.

On the opposite side, southern brewer Sabeco (SAB), PetroVietnam Gas Corp (GAS) and property developer Vingroup (VIC) weighed on the market.

“The VN Index rose at a slower pace at the end of Tuesday session as investors sought profits when the benchmark was near the resistance range of 718-720 points,” Sài Gòn-Hà Nội Securities Corp (SHS) wrote in its report.

The benchmark index will likely rise on Wednesday to test the level of 719 -720 points again, however, sales pressure will increase when the index approaches that range. Investors should be cautious with their investments, SHS said.

Newer News
22/03 VN-Index rises for three consecutive days
21/03 VN-Index firm amid profit-taking
20/03 Large-cap stocks fuel indices’ gains
19/03 Shares set to keep rising after hitting peak
15/03 VN-Index fails to reach 1,140 points despite vibrant transactions
14/03 Banks stock drive VN-Index over peak
13/03 Vietnamese shares rise slightly on both bourses
12/03 VN-Index forecast to continue struggling
09/03 Large-caps support shares’ uptrend
08/03 VN-Index loses 8 points on March 7
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17/03 VN shares buoyed by Fed hike
14/03 Shares sink on portfolio reviews
10/03 Derivatives market coming in May or June
09/03 VN Index finishes almost unchanged
08/03 VN Index struggles to maintain growth
07/03 ROS drives VN Index for 2nd day
03/03 Shares edge down on rising prudence
02/03 VN shares sag on renewed correction fears
28/02 Shares up on investor confidence
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