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VN Index rebounds, boosted by VIC and MSN
Viet Nam’s benchmark VN Index rebounded on Wednesday morning, driven by property developer Vingroup and food and beverage producer Masan Group.
The benchmark index on the HCM Stock Exchange gained 0.31 per cent to close at 776.43 points, bouncing back from Tuesday's fall of 0.4 per cent.
More than 125.6 million shares were traded on the southern bourse, worth VND1.94 trillion (US$86.4 million).
The southern stock exchange was lifted by Vingroup (VIC) and Masan Group (MSN) following the two companies’ announcement on their business activities.
After being audited, parent company Vingroup reported net profit of VND1.62 trillion for the first half of 2017, an increase of 6.7 times from the pre-audit number.
Vingroup explained that the high improvement in its net profit was attributed to the dividend payouts it received from its subsidiaries. Vingroup’s shares jumped 3.8 per cent in the morning.
Shares of Masan Group recorded a similar growth rate of 3.8 per cent. On September 1, Masan Group will trade additional 9.87 million shares on the HCM Stock Exchange, raising the number of outstanding shares to more than 1.15 billion shares.
On the Ha Noi Stock Exchange, the HNX Index ended the morning session at 103.53 points, nearly unchanged from Tuesday’s close of 103.52 points.
More than 23 million shares were traded on the northern market, worth VND284.4 billion.
The afternoon trading session starts at 1pm.
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