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Blue chips drive indexes upwards
Vietnamese shares gained again on Monday afternoon as cash continued to pour into some individual large-caps, supporting the indices.
The benchmark VN-Index on the Ho Chi Minh Stock Exchange inched up 1.09 per cent to close at 961.30 points.
The southern market index gained 4.64 per cent last week.
More than 194.6 million shares were traded on the southern bourse, worth nearly VND4.1 trillion (US$175.3 million).
In the afternoon, strong gains of blue chips such as DHG Pharmaceutical Joint Stock Company (DHG), FPT Corporation (FPT), PetroVietnam Gas Joint Stock Corporation (GAS), Hoa Phat Group Joint Stock Company (HPG), Masan Group (MSN), Vingroup (VIC), Vinamilk (VNM), Viet Nam National Petroleum Group (PLX), Vincom Retail (VRE), Phu Nhuan Jewelry Joint Stock Company (PNJ), PetroVietnam Power Corporation (POW) and Vinhomes (VHM) contributed significantly to help the market rally.
Oil and gas stocks also had an impressive session with many strong gainers such as PetroVietnam Gas Joint Stock Corporation (GAS), CNG Viet Nam Joint Stock Company (CNG), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling & Well Services Corporation (PVD), PetroViet Nam Coating JSC (PVB), Drilling Mud Joint Stock Corporation (PVC), Petrovietnam Transportation Corporation (PVT), Viet Nam National Petroleum Group (PLX), PetroVietnam Oil Corporation (OIL), Binh Son Refining and Petrochemical Company Limited (BSR).
BSR made an impression when it increased by VND400 to end at VND14,600. Monday was also its 6th consecutive gaining session.
Other large-cap stocks also performed well, boosting the blue-chip VN30 Index up 0.80 per cent to 904.93 points.
Twenty-four of the 30 largest stocks by market capitalisation in the VN30 basket advanced while 5 declined.
According to BIDV Securities company, market sentiment was positive based on the results obtained temporarily by the trade negotiations between the US and China over the weekend and the possibility that President Trump will delay the deadline of imposing a 25 per cent tax on $200 billion of Chinese goods for 60 days.
The HNX Index on the Ha Noi Stock Exchange rose 0.68 per cent to end at 106.84 points.
The northern market index gained nearly 2.7 per cent last week.
Nearly 39 million shares were traded on the northern bourse, worth VND507 billion.
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