Thursday, March 28, 2024 6:45:29 PM - Markets open
VN-INDEX 1,290.18 +7.09/+0.55%
HNX-INDEX 243.92 +1.07/+0.44%
UPCOM-INDEX 91.48 +0.30/+0.33%
VN shares advance on hopes for virus block
Vietnam News - 8/4/2020 1:57:48 PM
 (0 ratings. You must sign in to rate.)
 Vietnamese shares posted the second biggest gain in the last month following the Government’s intention to block the spread of coronavirus across the country.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange rose 2.04 per cent to end Monday on 814.65 points.
 
This was the index’s second biggest increase in the last month. On July 28, the VN-Index jumped 3.59 per cent.
 
The benchmark lost a total of 3.71 per cent last week.
 
The market sentiment eased off from worries about the second coronavirus wave in the country after Prime Minister Nguyễn Xuân Phúc during a Monday meeting urged ministries, Government agencies and local authorities to stop the second wave of coronavirus in Việt Nam.
 
On Sunday, the Prime Minister also asked the banking-financial sector to give more support to the business community so they could recover from the pandemic.
 
On Monday, large-cap stocks were the driving force of the market, pulling both mid-cap and small-cap groups.
 
Better market confidence lifted the blue-chip tracker VN30-Index up 2.31 per cent to 757.86 points and the mid-cap and small-cap indices up 2.48 per cent and 2.72 per cent, respectively.
 
The VN30 futures maturing on August 20 gained 2.34 per cent to 742.00 points.
 
In the VN30 basket, 29 of the 30 largest stocks by market capitalisation and trading liquidity advanced while only one declined.
 
Sugar producer Thành Thành Công-Biên Hòa (SBT) led the group’s upturn, followed by steelmaker Hòa Phát (HPG), consumer staples firm Masan (MSN), SSI Securities (SSI), dairy firm Vinamilk (VNM), and petrol company Petrolimex (PLX).
 
The Vietnamese stock market had returned to its balance in recent days despite the surge of infection cases and deaths in Việt Nam, Lê Anh Tùng, market strategy director at KB Securities Vietnam Co, said.
 
“Worries about a nationwide breakout had been priced in,” he said, adding the market sentiment may improve as the authorities strengthen their control over infected areas.
 
“The strong gain today with improved trading liquidity indicated investors’ confidence was better and cash seemed to return to the market,” Sài Gòn-Hà Nội Securities Co (SHS) said in its daily report.
 
“But in the short run, the market would still decline,” the company said. “The gap of 16.86 points between the VN30-Index and its August futures proves investors remain pessimistic.”
 
On the Hà Nội Stock Exchange, the HNX-Index advanced 2.72 per cent to close Monday at 110.43 points.
 
The northern market index lost a total of 1.7 per cent last week.
 
More than 347 million shares were traded on the two exchanges, worth VNĐ5.23 trillion (US$223.3 million). — VNS
 
Read original article here
 
Newer News
23/03 Shares sustain gains on strong investor confidence
20/03 Vietnamese securities companies race to boost capital amid high market demand
19/03 Large-caps pressured as increased profit-taking drives share decline
18/03 Market likely to be affected by Fed's meeting this week
18/03 Investors show strong interest in dividends at annual shareholders' meetings
15/03 VN-Index corrects, liquidity stays high
14/03 Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
13/03 Market rebounds from cautious sentiment
12/03 Losses in bank stocks weigh on market sentiment
12/03 ETFs continue to see strong outflows of foreign capital
Older News
04/08 Maximum 130,700 USD fine for listing violations: Draft decree
21/07 Stock market celebrates 20th birthday
18/07 Shares drop further on low liquidity
15/07 New regulations about corporate bond issuance
13/07 Stocks to struggle on mixed Q2 earnings report releases
12/07 Rallies end as profit-taking weighs on large-caps
07/07 VN stocks advance as securities, banking and aviation industries rise
07/07 Corporate bond market to boom in second half
02/07 VN-Index rebounds, propped up by PMI data and interest cuts
01/07 VN stocks fall for sixth straight day
 
Newsletter Signup
Top Stories
Shares sustain gains on strong investor confidence
Banks given advantages to CASA ratio
Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
VN-Index corrects, liquidity stays high
Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
Market Update
Last updated at 3:05:00 PM
VN-INDEX 1,290.18 +7.09/+0.55%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.