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Shares advance as blue-chips gain ground
Vietnam News - 8/21/2019 2:10:30 PM
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Shares gained further on Tuesday thanks to buying focusing on some individual blue-chips.
The VN-Index on the Hồ Chí Minh Stock Exchange rose 0.37 per cent to end the trading session at 984.67 points.
The southern market index inched up 0.11 per cent to end Monday at 981.03 points.
On the Hà Nội Stock Exchange, the HNX-Index increased 0.38 per cent to 102.98 points.
The index edged up 0.23 per cent to end Monday at 102.58 points.
More than 310.3 million shares worth nearly VNĐ6 trillion (US$257 million) were traded on the two markets.
The Vietnamese stock market was driven by the energy, banking, information and technology, logistics, rubber production, retail, wholesale, agriculture and seafood processing sectors.
Their sector indices rose between 0.27 per cent and 2.74 per cent, data on showed.
Large-cap stocks advanced on Tuesday with the VN30-Index increasing by 0.30 per cent to end at 894.45 points.
The pillars that have supported the market included Vinhomes (VHM) (+3 per cent), PetroVietnam Gas JSC (GAS) (+1.2 per cent), Mobile World Group (MWG) (+1.8 per cent), Novaland (NVL) (+1.4 per cent), Vincom Retail (VRE) (+0.8 per cent), Vietcombank (VCB) (+0.1 per cent), Vietinbank (CTG) (+0.5 per cent), Bank for Investment and Development (BID) (+0.3 per cent) and Military Bank (MBB) (+0.5 per cent).
On the opposite side, there were a few pillars ending down such as Vingroup (VIC) (-0.7 per cent), Masan Group (MSN) (-1.2 per cent), Vinamilk (VNM) (-0.4 per cent), Bảo Việt Holdings (BVH) (-0.9 per cent), and Hòa Phát Group (HPG) (-0.7 per cent).
Industrial real estate developers were darlings of the market with many good gainers like the Development Investment Construction Joint Stock Corporation (DIG) (+6.7 per cent), Bà Rịa-Vũng Tàu House Development Co (HDC) (+1.7 per cent), Hà Đô Group Joint Stock Company (HDG) (+1.4 per cent), Từ Liêm Urban Development Joint Stock Company (NTL) (+0.4 per cent), Danang Housing Investment Development JSC (NDN) (+2.7 per cent), Nam Tân Uyên Joint Stock Company (NTC) (+1.3 per cent), Tín Nghĩa Industrial Park Development Joint Stock Company (TIP) (+6.8 per cent), Sonadezi Long Thành (SZL) (+4.9 per cent) and SONADEZI Châu Đức Shareholding Company (SZC) (+5.5 per cent).
With the increase of world oil prices, local oil and gas stocks like PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroVietnam Gas JSC (GAS) also advanced. Future Brent oil price increased by $1.1, equivalent to 1.88 per cent, to $59.74 per barrel. Future WTI oil prices rose $1.34, equivalent to 2.44 per cent, to $56.21 per barrel.
According to BIDV Securities Company (BSC), foreign investors net sold VNĐ73.63 billion on the HOSE, including Vietjet Air (VJC) (VNĐ97.2 billion), Hòa Phát Group (HPG) (VNĐ41.33 billion) and Vietcombank (VCB) (VNĐ16.65 billion). They were net sellers on the HNX with a value of VNĐ14 billion.
If maintaining the uptrend in the next sessions, VN-Index will move to retest the resistance level of 985 points before determining a clear trend, BSC said. —VNS  
Read original article here
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