Shares advance on the back of 'Vin' stocks

Wednesday, Jun 16, 2021 07:04

The Vinhomes Ocean Park, a project developed by real estate firm Vinhomes JSC (VHM). VHM rose 2.5 per cent Tuesday. — Photo

Shares gained slightly on Tuesday as investors sought stocks in the 'Vin' family, bolstering the overall stock market.

On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index jumped 5.64 points, or 0.41 per cent, to 1,367.36 points. The market's breadth was neutral with 183 stocks increasing while 198 stocks declined.

The southern market index had jumped 0.74 per cent, to close Monday at 1,361.72 points.

The market liquidity was also high as domestic investors poured over VND24.4 trillion into the southern market, equivalent to a trading volume of nearly 731 million shares.

The shares of the 'Vin' family performed well as IT-real-estate-manufacturing-retail conglomerate Vingroup (VIC), Vincom Retail (VRE) and real estate giant Vinhomes (VHM) increased 1.4 per cent, 2.5 per cent and 2.8 per cent, respectively.

The recovery was also boosted by gains in large-cap stocks. The VN30-Index edged 0.57 per cent higher to 1,487.04 points. Of the VN30 basket, 12 stocks rose while 15 slid and three stayed unchanged.

In the VN-30 basket, gainers included Vinhomes (VHM), insurer Bao Viet Holdings (BVH), HDBank (HDB), The Refrigeration Electrical Engineering Corporation (REE), Vingroup (VIC) and Vincom Retail (VRE).

On the opposite side, losers were VPBank (VPB), Hoang Huy Investment Financial Services JSC (TCH), Thanh Thanh Cong Bien Hoa JSC (SBT), Sacombank (STB), PVPower (POW) and TPBank (TPB).

“VN-Index mainly struggled around the reference level in the morning session but maintained the uptrend in the afternoon session and has now surpassed the threshold of 1,365 points,” said BIDV Securities Co.

“Investment cash flow declined. Foreign investors were net buyers on the HoSE and net sellers on the HNX.

“Besides, market breadth remained in equilibrium with liquidity not much different from the previous session.

“According to our assessment, VN-Index may surpass 1,370 level in the next session but selling pressure will also strengthen in this area,” it said.

Foreign investors net bought VND95.78 billion on HOSE, including Vingroup (VIC) with VND104.4 billion, Vietnam National Petroleum Group (PLX) with VND96.9 billion and Vincom Retail (VRE) with VND84.9 billion. They were net sellers on the HNX with a value of VND2.14 billion.

On the Ha Noi Stock Exchange (HNX), the HNX-Index lost 0.23 per cent to 318.29 points.

It had gained 0.73 per cent to close Monday at 319.01 points.

During the trading session, nearly 225.6 million shares were traded on the northern bourse, worth over VND6.4 trillion. — VNS

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