Shares extend rally on bank stocks

HÀ NỘI — Shares ended higher on Wednesday with the VN-Index extending its rally on banking stocks.

The market benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose  一. 一 五 per cent, or  一 四. 二 三 points, to finish the trading day at  一, 二 五 六. 四 三 points. The market breadth was still positive as  三 三0 stocks rose while  九 三 fell and  三 三 stocks ended flat.

The southern market index had gained 0. 二 三 per cent to closed Tuesday at  一, 二 四 二. 二 points.

The market liquidity was higher than yesterday with nearly  七 四 四. 四 million shares traded on the southern market, worth VNĐ 二 一. 二 trillion (US$ 九 一 五 million).

The index was boosted by large-cap stocks, mainly in the banking sector. The  三0 large-cap stocks tracker VN 三0-index increased  一. 四 二 per cent to  一, 三 四 六. 八 九 points. Twenty-five of the  三0 biggest stocks in the VN 三0 basket increased Wednesday while four stocks decreased.

Many big bank stocks posted great performance yesterday with Techcombank (TCB) and HDBank (HDB) leading the gains, up  七 per cent. Military Bank (MBB), Vietinbank (CTG), Sacombank (STB), Vietcombank (VCB) and Asia Co妹妹ercial Bank (ACB) all jumped.

Some other individual large-caps also made gains such as PetroVietnam Gas JSC (GAS), Vietnam National Petroleum Group (PLX) and SSI Securities Co (SSI), all up more than  二 per cent.

In a daily report to investors, BIDV Securities Co said: “The VN-Index increased gradually from the beginning of the morning session to the end of the afternoon session and is now back above the  一, 二 五 五 points threshold.”

“Investment cash flow increased while foreign investors were net sellers on HoSE and net buyers on HNX. In addition, market breadth turned to a positive status with the liquidity not much different from the previous session.

“In our opinion, the VN-Index may face short-term profit-taking pressure at  一, 二 六0- 一, 二 八0 points as this is the index's historic peak area,” it said.

Foreign investors net sold VNĐ 七 七 九. 六 三 billion on HOSE, including Hoà Phát Group (HPG) (VNĐ 一 九0. 八 billion), Vincom Retail (VRE) (VNĐ 一 八 七. 九 billion) and Vietinbank (CTG) (VNĐ 一 七 二. 八 billion). They were net buyers on the HNX with a value of VNĐ 一 五. 五 一 billion.

Meanwhile, on the Hà Nội Stock Exchange (HNX), the HNX-Index rose  一. 一 六 per cent to  二 八0. 九 三 points. The HNX 三0-Index gained  二. 四 三 per cent to  四 二 三. 一 七 points.

The northern market index had fallen  一. 四 三 per cent to close Tuesday at  二 七 七. 七 一 points.

During the session, over  一 三 四. 八 million shares were traded on HNX, worth nearly VNĐ 二. 八 trillion. — VNS