Shares end higher on the rise of bank, oil stocks

HÀ NỘI —Shares finished higher on Wednesday thanks to the rise of large-caps in the banking and mining groups, bolstered by increased buying demand at the end of the trading session.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) gained 0. 五 九 per cent to close at  一, 五 一 二. 三0 points.

The index had lost 0. 四 九 per cent to close Tuesday at  一, 五0 三. 四 七 points. 

The market's breadth turned positive with  一 一 一 stocks declining, while  三 二 六 rose.

More than  六 九 五 million shares were traded on the southern bourse, worth VNĐ 二 二. 四 trillion (US$ 九 八 一. 四 million).

The  三0 biggest stocks tracking VN 三0-Index gained 0. 四 二 per cent to  一, 五 三 八. 八 三 points. Twenty-one in the VN 三0 basket increased, while seven declined.

Real estate and construction stocks rebounded after dramatic drop in prices on Tuesday as a series of large-cap stocks recovered such as Tasco Joint Stock Company (HUT), LDG Investment JSC (LDG), both hitting ceiling prices. Licogi  一 四 JSC (L 一 四), Development Investment Construction JSC (DIG), C.E.O Group JSC (CEO), Đất Xanh Group JSC (DXG), Hồ Chí Minh City Infrastructure Investment JSC (CII) and DRH Holdings JSC (DRH) all increased by more than  三 per cent.

Banking stocks also gained strongly and supported the indices, with gainers including Asia Co妹妹ercial Bank (ACB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG), Military Bank (MBB), Sacombank (STB), Tiên Phong Bank (TPB) and Military Bank (MBB).

Energy stocks also attracted cash flow with many gainers such as Viet Nam National Petroleum Group (PLX), PVPower (POW), PetroVietnam Technical Services Corporation (PVS), PetroVietnam Drilling and Well Services Corporation (PVD), Drilling Mud Joint Stock Corporation (PVC) and PetroVietnam Gas JSC (GAS).

Foreign investors net sold VNĐ 一0 七. 九 六 billion on HOSE, including Việt Nam National Petroleum Group (PLX) with VNĐ 六 三. 二 六 trillion, Novaland (NVL) with VNĐ 三 六.0 五 billion and FPT Digital Retail Joint Stock Company (FRT) with VNĐ 三 一. 九 二 trillion). Foreign investors were net buyers on HNX with a value of VNĐ 一 二0. 六 八 billion.

Meanwhile, the HNX-Index on the Hà Nội Stock Exchange (HNX) increased  一. 八 七 per cent, to  四 四 二. 五 四 points. The index had lost  一. 四 九 per cent, to close Tuesday at  四 三 四. 四 三 points.

During the trading session, investors poured VNĐ 三. 二 trillion into the northern market, equivalent to a trading volume of  一0 九 million shares. — VNS