Stocks in the local market continued an upward spiral thanks to strong cash flow today, February 3, with two indices both expanding over 3% at the close.
The impact of the Covid-19 resurgence in the country has no longer shocked investors. Further, news about some large banks set to lower deposit rates, the brighter economic prospect in the first quarter of 2021, and many businesses announcing their profits left a positive impact on the cash flow.
With 414 advancers and 56 decliners, the benchmark VN-Index of the Hochiminh Stock Exchange gained 35.76 points, or 3.32% versus the previous session at 1,111.29.
Turnover on the southern bourse improved 16.69% in volume and 20.72% in value at some 703 million shares and more than VND15.8 trillion. Block deals contributed over VND2.5 trillion to the overall value.
In the VN-30 basket, only mobile phone retailer MWG fell slightly by less than 0.5%, while the remaining stocks were winners, with insurer BVH, State-owned electricity firm POW, sugar maker SBT, securities firm SSI, financial service provider TCH, and lender VPB hitting their upper limits.
Besides this, some other largecaps staged good performance, including lender BID, gas firm GAS, steelmaker HPG, consumer goods producer MSN, and housing developer VHM.
Scores of small and medium stocks also closed in an upbeat mood, with ITA, HQC, DXG, PVD, KBC all reaching their ceiling prices.
On the northern bourse, strong demand boosted the HNX-Index up by 3.84%, equivalent to 8.26 points, to end at 223.62 points, with 122 winners and 29 losers. Lender SHB maintained growth as it soared 5.4% and continued to lead the Hanoi market by liquidity, with over 26 million shares changing hands.
