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Shares recover on the rise of large-caps, surge of world stocks

HÀ NỘI — Vietnamese equity markets rebounded on Wednesday, buoyed by a surge in global markets and capital injected in heavyweight stocks.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HOSE) rose 0. 二 一 per cent to close at  八 六 九. 九 一 points.

The southern index had lost 0.0 七 per cent to close Tuesday at  八 六 八. 一 一 points.

Nearly  二 五 八. 三 million shares traded on the southern market, worth VNĐ 四. 五 trillion (US$ 一 九 五. 一 million).

Market breadth was positive with  二 二 三 gainers and  一 五 六 decliners.

The VN 三0 Index, which tracks the performance of the  三0 largest stocks by market capitalisation and liquidity on HoSE, increased 0. 五 九 per cent to close Wednesday at  八 一0. 一 六 points.

Pillar stocks reported strong gains such as Bank for Investment and Development of Việt Nam (BID), insurer Bảo Việt Holdings (BVH), Vietinbank (CTG), FPT Corporation (FPT), HDBank (HDB), steelmaker Hoà Phát Group (HPG), Military Bank (MBB), Mobile World Group (MWG), Novaland (NVL), Techcombank (TCB), Vietcombank (VCB), Vinhomes (VHM), VPBank (VPB), Vinamilk (VNM) and Vincom Retail (VRE).

Real estate and construction attracted large cash flow with gainers including Coteccons Construction (CTD), Hòa Bình Construction and Real Estate Corporation (HBC), Hà Đô Group Joint Stock Company (HDG), Khang Điền House Trading and Investment (KDH) and Phát Đạt Real Estate Development Corporation (PDR).

The industrial real estate group also performed well, with notable names like Nam Tân Uyên JSC (NTC), Sonadezi Long Thành Holding Company (SZL) and Sonadezi Châu Đức (SZC) rising.

The stock market was also driven by strong gains in global markets in Wednesday's overnight trading.

The US stock market outperformed on Tuesday night with the Dow Jones Industrial Average surging  二. 一 三 per cent to end at  二 六, 六 四 二. 五 九 points, while the S P  五00 gaining  一. 三 四 per cent to  三, 一 九 七. 五 二. The Nasdaq Composite added 0. 九 四 per cent to  一0, 四 八 八. 五 八.

On the Hà Nội Stock Exchange (HNX), the HNX-Index was down 0. 二 per cent to end Wednesday at  一 一 五. 九 一 points.

Nearly  三 三. 五 million shares were traded on the northern market, worth VNĐ 三 六 二 billion.

Foreign investors net sold VNĐ 一 一0. 三 五 billion on HOSE. They were net sellers on the HNX with a value of VNĐ 三. 七 四 billion.

According to BIDV Securities, with the July  二0 二0 futures contract expiring on Thursday and OPEC closing their meeting Wednesday, the market is likely to experience strong fluctuations in the last two sessions of the week. — VNS

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