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VN-Index makes progress on purchase power
Vietnam News - 8/9/2019 1:15:51 PM
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The VN-Index made gains on Thursday thanks to increasing buying power on large-cap stocks.
 
The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 0.96 per cent to close at 975.24 points.
 
The VN-Index had gained 0.14 per cent to close at 965.93 points on Wednesday.
 
More than 219 million shares were traded on the southern bourse, worth VNĐ6 trillion (US$261 million).
 
According to BIDV Securities Company (BSC), VN-Index had a positive trading session in accordance with the general trend in the region along with clear improvement in liquidity thanks to the market easing action of the world's central banks.
 
“Among them is the central bank of China, which fixed the central exchange rate of RMB7,039 to US$1, stronger than experts' forecast. This shows that the central bank is trying to keep the currency relatively stable,” BSC said.
 
At the end of the trading session, the market recorded strong gains of blue-chips such as Vinhomes (VHM), Vingroup (VIC), Hòa Phát (HPG), Vincom Retail (VRE) and Bảo Việt Holdings (BVH). Of which, VHM increased by 1.8 per cent to VNĐ84,500 per share. VIC rose by 3.4 per cent to VNĐ122,000 per share. HPG soared by 5.4 per cent to VNĐ23,300 per share.
 
Seaport stocks were on an upswing. Tân Cảng Warehousing Joint Stock Company (TCW), Đoạn Xá Port (DXP), Đồng Nai Port (PDN), Viconship (VSC), Đình Vũ Port (DVP), Tân Cảng Logistics & Stevedoring Joint Stock Company (TCL) and Hai An Transport & Stevedoring JSC (HAH) all hit the daily limit rise of 7 per cent.
 
Shares of real estate, construction, logistics, insurance, securities, banks and energy companies became attractive to investors on Thursday.
 
The sector indices gained between 0.4 per cent and 4.8 per cent, data on vietstock.vn showed.
 
Investors may be looking for short-term earning opportunities in those sectors.
 
Large-cap stocks performed well enough to cushion the market.
 
The VN30-Index that tracks the performance of the 30 largest stocks by market value and trading liquidity was also up 0.87 per cent to 875.81 points.
 
Seventeen of the 30 stocks in the VN30 basket advanced while eight declined.
 
On the Hà Nội Stock Exchange, the HNX-Index increased 0.99 per cent to end at 102.90 points.
 
The northern market index was unchanged at 101.89 points on Wednesday.
 
Nearly 25.7 million shares were traded on the northern market, worth VNĐ335 billion. — VNS
 
 
Read original article here
 
Newer News
08/04 Shares recede on worries of foreign selloffs
07/04 VN-Index witnesses largest one-day gain in 19 years
04/04 Local shares end positively on oil price hikes, better market sentiment
01/04 VN stocks pick up after officials' reassurances
30/03 VN stocks nosedive following higher infection reports
27/03 Shares struggle as investors still cautious after hefty gains
26/03 Securities service fees cut does help, but more drastic measures in need: experts
26/03 VN-Index witnesses largest one-day gain since 2012
19/03 VN stocks head up amid strong foreign selling
18/03 VN-Index slides as foreign selling outclasses cheap purchases
Older News
08/08 VN shares move up but liquidity modest
07/08 Shares slide, money flows into industrial sector
06/08 Shares tumble on massive selling
02/08 VN stocks fall on US-China trade news
01/08 Shares recover on strong first-half earnings
31/07 VN stocks decline amid investors' caution
29/07 Local stocks to slow on mixed corporate earnings as investors wait for int'l events
26/07 75,000 derivatives trading accounts opened in first six months
25/07 Shares slow down as banks lose steam
24/07 Shares recover thanks to 'Vin' stocks
 
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