Vietnamese markets extended gains and ended higher on Tuesday, thanks largely to sharp rises in banking, securities, oil and fertiliser shares.
On the Ho Chi Minh Stock Exchange (HoSE), the VN-Index rose 0.59 per cent to close the trading session at 1,503.78 points.
Nearly 948 million shares were traded on the southern exchange, worth VND28.5 trillion (US$1.24 billion).
The 30 biggest stocks tracker VN30-Index climbed 0.71 per cent to 1,513.40 points.
Twenty-two stocks of the VN30 basket posted positive performance on Tuesday, while four slid and four ended flat.
Data compiled by financial news site cafef.vn showed that cash flow was moving into banking and securities stocks as there were many strong gainers such as Asia Commercial Bank (ACB), Eximbank (EIB), Military Bank (MBB), VPBank (VPB), Techcombank (TCB), Tien Phong Bank (TPB), Maritime Bank (MSB), Kien Long Commercial Joint Stock Bank (KLB), Agribank (AGR), Viet Nam Bank For Industry & Trade Securities JSC (CTS), Military Bank Securities Company (MBS), and Viet Capital Inc (VCI).
Oil and gas stocks also rose with gainers PetroVietnam Gas JSC (GAS), PetroVietnam Drilling and Well Services Corporation (PV Drilling or PVD), Petrochemical and Bio-Fuel JSC (PVB) and PetroVietnam Construction Co JSC (PVC).
Fertiliser and coal groups outperformed with DAP - VINACHEM JSC (DDV), Lam Thao Fertilisers And Chemicals JSC (LAS), Petro Viet Nam Ca Mau Fertiliser JSC (DCM) and Duc Giang Chemicals Group JSC (DGC) all rising.
Coal stocks outperformed with many notable gainers such as Vinacomin - Ha Tu Coal JSC (THT), Vinacomin - Vietbac Mining Industry Holding Corporation (MVB), and Vinacomin - DeoNai Coal JSC (TDN).
Steel stocks, after a few minutes of weakness in the morning, also suddenly gained strongly at the end of the session. Some stocks like Hoa Phat Group (HPG), Hoa Sen Group (HSG) and Nam Kim Group (NKG), all moved up.
On the Ha Noi Stock Exchange, the HNX-Index closed Tuesday at 461.35 points, up 0.67 per cent.
During the session, nearly 134.2 million shares were traded on the bourse, worth over VND3.8 trillion. — VNS