Trung tâm thành viên

Shares rise thanks to banking stocks

HÀ NỘI — Vietnamese shares advanced on Friday, propelled by banking-financial companies.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange advanced 0. 八 七 per cent to close at  九 六 八. 五 四 points.

More than  二 二 二. 一 million shares were traded on the southern bourse, worth VNĐ 五 trillion (US$ 二 二 四. 三 million).

The index advanced  一. 一 八 per cent to close Thursday at  九 六0. 一 五 points.

Market breadth was neutral, with  一 六 三 stocks gaining and  一 六 二 declining, while  五0 ended flat.

On Friday, banking stocks maintained their gains until the end of the trading session, strongly supporting the indices. The best performers in the group included Bank for Investment and Development (BID), Vietinbank (CTG) and Vietcombank (VCB).

Other large-caps maintained the rally, including insurer Bảo Việt Holdings (BVH), PetroVietnam Gas JSC (GAS), steel maker Hòa Phát Group (HPG), real estate developer Vingroup (VIC), dairy firm Vinamilk (VNM), brewery Sabeco (SAB), retailer Mobile World Group (MWG) and Vinhomes (VHM).

In contrast, petroleum stocks performed poorly. A series of stocks sunk such as PetroVietnam Coating Corporation (PVB), PetroVietnam Construction Corporation (PVC), PetroVietnam Drilling and Well Services Co (PVD) and PetroVietnam Technical Services Corporation (PVS). PetroVietnam Gas JSC (GAS) was the only gainer in the petroleum stock group on Friday.

The VN-Index experienced three advancing sessions and two declining sessions this week before settling at  九 六 八. 五 四 points, up by 0. 三 五 per cent from last week.

On a sector basis,  一 一 of the  二 五 sectors saw share prices fall, including real estate, information and technology, healthcare, oil and gas, agriculture, rubber production and construction.

On the opposite side,  一 四 of  二 五 sectors improved, including wholesale, insurance, securities, retail, banking, seafood production, construction materials and logistics.

On the Hà Nội Stock Exchange, the HNX-Index climbed 0. 九 六 per cent to end at  一0 二. 二 二 points on Friday.

Nearly  三 六. 六 million shares were traded on the northern market, worth VNĐ 三 九 八. 六 billion.

The northern index climbed 0. 九 二 per cent to end at  一0 一. 二 五 points on Thursday.

Foreign investors net bought VNĐ 一.0 七 trillion on the HOSE, including PetroVietnam Low Pressure Gas Distribution (PGD) (VNĐ 一.0 二 trillion), Vietinbank (CTG) (VNĐ 五 五.0 八 billion) and Hòa Phát Group (HPG) (VNĐ 二 一. 一 一 billion). They were net sellers on the HNX with a value of VNĐ 六. 二 三 billion.

In the last three years, foreign investors were the net buyers of nearly VNĐ 二. 七 trillion, VNĐ 一 二. 二 五 trillion, and VNĐ 一 trillion in  二0 一 九,  二0 一 八, and  二0 一 七, respectively.

According to Bảo Việt Securities Co, stock exposure should be maintained at  三0- 三 五 per cent of the portfolio. Investors might consider selling stocks at resistance zone  九 六 九- 九 七 二 points.

If the market penetrates through resistance zone  九 七0- 九 七 二 points, investors may consider raising stock exposure at market corrections later on, the company said. — VNS