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Local shares gain on trading spike
Shares advanced on both national stock exchanges yesterday thanks to strong cash flow into the market.
The benchmark VN-Index on the HCM City Stock Exchange gained 0.65 per cent to close at 498.96 points.
More than 69.93 million shares worth VND954.3 billion (US$45.44 million) changed hands.
The VN30, tracking the southern bourse's top 30 shares by capitalisation and liquidity, also gained 0.59 per cent to close at 557.15 points.
Military Bank (MBB), Hoa Phat Group (HPG), Kinh Do Confectionery (KDC) and Vinh Son – Song Hinh Hydropower (VSH) closed lower yesterday while Vietcom-bank (VCB), insurance company Bao Viet (BVH) and property developer Hoang Anh Gia Lai (HAG) were among the 20 stocks that gained value.
Tan Tao Investment Industry Corporation (ITA) led in terms of trading volume with 5.4 million shares traded, followed by PetroVietnam Transport Corporation (PVT) with 3.9 million shares changing hands and Hoang Anh Gia Lai (HAG) with 3.75 million shares exchanged.
On the Ha Noi Stock Exchange, the HNX-Index closed at 61.12 points, a 0.6 per cent rise from yesterday's session, with around 25.59 million shares traded at a value of nearly VND191.59 billion ($9.12 million).
The HNX30, which tracks the northern bourse's 30 largest stocks, also increased 1.09 per cent to 113.72 points.
Foreign investors concluded the day as net buyers for the fifteenth day in a row with VND73.99 billion ($3.523 billion) changing hands.
Bao Viet Securities predicted an upward trend over the next few sessions.
FPT Securities forecast strong market fluctuations, as the benchmark VN-Index had not yet managed to exceed the 500-point level.
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