Shares gained for a third straight session on Wednesday as the market moved positively from the opening, thanks to the information that Fubon ETF fund raised more capital and will disburse more into the Vietnamese market.

 

On the Hồ Chí Minh Stock Exchange, the VN-Index rose 1.09 per cent to close at 1,049.18 points.

 

Market breadth was positive with 256 rising stocks and 123 losing ones.

 

Nearly 510.3 million shares worth VNĐ8.5 trillion (US$358.3 million) were traded on HCM City’s bourse.

 

The market reacted positively to the news that the Fubon ETF fund had raised more capital and was about to be disbursed into the Vietnamese market, said Bảo Việt Securities Co (BVSC).

 

Cash flow focused on Banking, Securities, and Metals, spreading to the rest of the industry groups, it said.

 

For investors with a high proportion of stocks, they can consider selling and restructuring their portfolio when the market rises in the next sessions, it said.

 

Investors still need to be cautious, observe supply and demand movements and avoid chasing buys. In addition, it is recommended to maintain the portfolio weight at a reasonable level and take advantage of the market's recovery to structure the portfolio in the direction of minimising risk, said Việt Dragon Securities Co.

 

Most of the major groups gained but some groups cooled down at the end of the session. Notably, there was a good increase in some large-cap stocks thanks to the main contribution from Steel, Consumer Goods, Energy and Banking groups. Real estate cooled down significantly compared to the positive movement from the previous session, said Việt Dragon Securities Co.

 

The VN-30 Index, tracking the 30 biggest stocks on HoSE, gained 1.31 per cent to close at 1.040,59 points.

 

In the VN-30 basket, 27 stocks gained while three lost ground. The biggest gainers included the Vietnam Rubber Group (GVR), Hoà Phát Group (HPG), SSI Securities Inc (SSI), HD Bank (HDB) and Vinhomes (VHM).

 

Energy stocks also performed positively with gainers such as PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), and Drilling Mud Joint Stock Corporation (PVC).

 

On the Hà Nội Stock Exchange, the HNX-Index rose 0.57 per cent to end at 208.68 points. — VNS