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Shares gain on the back of bank stocks – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

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SSI Securities Co (SSI) rose 6.1 per cent on Friday. Photo courtesy of SSI

 HÀ NỘI — Shares ended this week on a positive note thanks to the prosperity of financial-banking stocks.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange rose 1.32 per cent to end the session at 1,126.91 points. It had inched up 0.08 per cent to close Thursday at 1,112.19 points.

Nearly 530 million shares were traded on the southern bourse, worth VNĐ12.4 trillion (US$538.4 million).

Market breadth was positive with 297 gainers and 134 losers.

“After Thursday’s consolidating session, VN-Index had a positive movement today. Investment cash flow spread into the market,” said BIDV Securities Co.

“Constant liquidity, widening market spread and positive market breadth indicated stable trading activity. Foreign investors continued to be net buyers on both HSX and HNX.

“With the trend of abundant cash flow spreading evenly into all sectors, the VN-Index is likely to return to the range 1,130-1,150 in the next sessions,” it said.

Foreign investors net bought VNĐ432.58 billion on HOSE, including FUEVFVND with VNĐ212.8 billion, dairy firm Vinamilk (VNM) (VNĐ98.8 billion and Masan Group (MSN) with VNĐ70.6 billion. They were net buyers on the HNX with the value of VNĐ3.97 billion.

Towards the end of the session, the VN-Index’s gain was significantly strengthened as banking stocks such as Techcombank (TCB), Military Bank (MBB), Vietinbank (CTG), Sacombank (STB) and HDBank (HDB) extended their rises. Among them, Sacombank (STB) increased by 4 per cent to VNĐ18,300 per share, Techcombank (TCB) increased by 3.7 per cent to VNĐ36,300 per share.

Securities stocks also made strong gains such as SSI Securities Inc (SSI) increased 6.1 per cent to VNĐ31,500 per share, VNDirect (VND) rose by 3.3 per cent to VNĐ26,350 per share, Việt Capital Inc (VCI) grew by 2.3 per cent to VNĐ54,200 per share.

A number of other blue-chips also attracted cash flow such as FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), Masan Group (MSN), Vinamilk (VNM) and Sabeco (SAB).

The large-cap tracker VN30-Index was up 1.59 per cent to 1,135.50 points.

Twenty-eight of the 30 large-cap stocks in the VN30 basket increased while one declined.

On the Hà Nội Stock Exchange, the HNX-Index rose 0.07 per cent to end Friday at 223.84 points.

It had edged up 0.03 per cent to end Thursday at 223.68 points.

More than 109.6 million shares were traded on the northern market, worth VNĐ2 trillion. — VNS

 



Source: Vietnam News

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