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Shares gain for fifth straight sessions on realty stocks and blue-chips
Shares gained for a fifth consecutive session on Friday thanks to buying focusing on real estate stocks and some individual blue-chips, boosting indices.
A corner of the Venica real estate project, which is built by Khang Điền House Trading and Investment JSC (KDH). KDH rose 7 per cent on Friday. — Photo KDH
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On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index gained 0.27 per cent, to hit 1,154.73 points.
It had risen 3.6 per cent during the last five trading sessions.
The market breadth was negative, with 192 stocks climbing, while 274 stocks fell and 82 ended flat.
Local investors poured VNĐ14 trillion (US$572.5 million) into the southern market, equivalent to a trading volume of over 621 million shares.
Huge cash flow was injected into large-cap stocks, propelling the market’s uptrend. Among the most notable gainers were Vietjet (VJC) soaring 6.2 per cent, Mobile World Group (MWG) rising 2.3 per cent, Sabeco (SAB) climbing 1.7 per cent and Vietnam Rubber Group (GVR) up 2.6 per cent.
Two major stocks in the real estate industry, Khang Điền House (KDH) and Phát Đạt Real Estate (PDR), both increased to the ceiling prices at the end of the session.
PDR has announced that its project worth more than VNĐ10.8 trillion in southern Bình Dương Province has been approved.
As for KDH, the company is expected to receive nearly VNĐ1.7 trillion from Keppel Land Group in the second half of this year through capital transfer at a project.
Energy stocks also attracted cash flow with many gainers such as PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD) and Drilling Mud Joint Stock Corporation (PVC).
The VN30-Index, which tracks the 30 biggest stocks on HoSE, increased 0.1 per cent to finish Friday at 1,166.66 points.
Of the VN30 basket, 13 stocks increased, while 16 dropped.
"Although there are cautious and tense developments, in general, the supply at low prices is not strong, reflected in reduced liquidity. This movement helped the market regain its upward momentum and continue to challenge the resistance zone around 1,150 points," said Việt Dragon Securities Co.
"Currently, the supply pressure at this resistance zone is cooling down, so it is likely that the market will continue to extend its recovery in the near future. However, it might be difficult for the recovery to last long because supply pressure may increase again when the market approaches a new resistance zone, such as the 1,160-1,170 point area."
"Therefore, investors need to observe and evaluate supply and demand when the market recovers. Temporarily, it is still necessary to consider the market's recovery ability to restructure the portfolio in a way that minimises risks," it said.
On Hà Nội Stock Exchange (HNX), the HNX-Index rose 0.26 per cent to close Friday at 239.05 points.
During the session, over 88.8 million shares were traded on the northern market, worth over VNĐ1.9 trillion.
Bizhub
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