Shares end higher, boosted by large-caps’ gains

HÀ NỘI — Vietnamese shares gained for a second consecutive day after a late recovery on Tuesday, bolstered by a series of large-cap stocks.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) was up 0. 一 一 per cent to  九 一 五. 六 七 points.

It had gained 0. 五 二 per cent to close at  九 一 四. 六 八 points on Monday.

A total of  四 九 六 million shares were traded on the southern bourse, worth VNĐ 八. 二 trillion (US$ 三 五 四. 三 million).

Market breadth was positive with  二 一 二 gainers and  一 七 四 decliners.

Many individual blue-chips gained ground and fueled the market’s uptrend.

Tân Tạo Investment Industry Corp (ITA), which owns a lot of real estate in industrial zones, hit the ceiling price as liquidity soared to  三 二 million shares.

Real estate developer FLC Group (FLC) and its affiliate FLC Faros Construction Joint Stock Company (ROS) also increased strongly, up  六. 六 and  五. 六 per cent, respectively.

Two giant steelmakers Hoà Phát Group (HPG) and Hoa Sen Group (HSG) rose significantly by  三. 三 per cent and nearly  二 per cent, respectively.

The market also got a boost from the banking group, with notable gainers the Bank for Investment and Development of Việt Nam (BID), Vietcombank (VCB), Saecombank (STB) and Military Bank (MBB).

The large-cap tracker VN 三0-Index rose 0. 四 二 per cent to  八 七 一. 三 七 points with  一 四 of the  三0 largest stocks by market value and trading liquidity rising.

“The VN-Index is forecast to oscillate between support zone  八 九 五- 九00 points and resistance around  九 二0 points. If the support zone  八 九 五- 九00 points is penetrated, the index may enter a correction and retest lower supports in the short term,” said Bảo Việt Securities Co.

“During upcoming weeks, the market will fall under the influence of Q 三 business results of listed companies while the market will suffer a wide divergence among stock sectors,” the company said.

Foreigners net sold VNĐ 九 七. 五 四 billion on HOSE. They were net sellers on the HNX with a value of VNĐ 二. 七 九 billion.

On the Hà Nội Stock Exchange, the HNX-Index advanced 0. 四 三 per cent to  一 三 七. 七 七 points on Tuesday.

The northern market index had gained  一. 六 九 per cent to close at  一 三 七. 一 九 points on Monday.

More than  五 八. 八 million shares were traded on the northern exchange, worth VNĐ 七 五 九. 五 trillion. — VNS