Workers process fish at Cửu Long Fish Joint Stock Company (ACL). ACL rose 1.4 per cent yesterday. — Photo courtesy of ACL
Việt Nam's stock market extended gains on Tuesday on the back of banking and seafood shares.
The benchmark VN-Index on the Hồ Minh Stock Exchange (HoSE) increased by 0.56 per cent, to close at 1,143.69 points. Market breadth was positive as 354 stocks climbed while 140 declined.
The VN-Index had gained 0.78 per cent to end Monday at 1,137.36 points.
More than VNĐ15.3 trillion (US$626.7 million) was poured into the southern bourse, equivalent to a trading volume of nearly 672 million shares.
The VN30-Index, which tracks the 30 biggest stocks in market capitalisation on the southern market, gained 0.86 per cent to close at 1,160.28 points.
Of the VN30 basket, 21 stocks jumped while seven slid, and two stayed unchanged.
Banking stocks performed positively and bolstered the increase of the market with gainers including Military Bank (MBB), Techcombank (TCB), VietinBank (CTG), Việt Nam International Commercial JS Bank (VIB), Saigon-Hanoi Commercial JS Bank (SHB), and Vietcombank (VCB). They rose between 0.2 per cent and 2.4 per cent.
Many stocks in the seafood industry gained substantially such as Cửu Long Fish (ACL, up 1.4 per cent), Nam Việt (ANV, up 2.6 per cent), Camimex Group (CMX, up 1.5 per cent, Sao Ta Food (FMC, up 0.4 per cent), I.D.I International Investment & Development (IDI, up 1.4 per cent) and Vĩnh Hoàn Corp (VHC, up 0.6 per cent).
“After the second support signal at the MA(200) area, the market continued to maintain its recovery and closed at the session's highest level. However, in general, support cash flow is still cautious, shown by reduced liquidity compared to previous sessions,” said Việt Dragon Securities Co.
“It is possible that the market will continue the technical recovery process in the next trading session, but developments will be difficult and supply pressure may increase as the market moves towards the gap area of 1,145 - 1,150 points.”
“Therefore, investors need to observe and evaluate supply and demand when the market recovers. Temporarily, it is still necessary to consider the market's recovery ability to restructure the portfolio in a way that minimises risks.”
The HNX-Index on the Hà Nội Stock Exchange (HNX) also climbed 0.26 per cent to 234.17 points.
Nearly 97 million shares were traded on the northern market exchange, worth VNĐ1.8 trillion. — VNS