Shares gain despite global cautious sentiment

Tuesday, Nov 03, 2020 08:00

A transaction branch of Vietcombank (VCB). VCB rose 3.4 per cent on Monday. — VNA/VNS Photo

Shares made good gains on Monday thanks to cheery market sentiment, in contrast to global market caution over the looming US presidential election.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange gained 0.89 per cent to close trading at 933.68 points.

The VN-Index fell a total of 3.72 per cent last week.

More than 297.6 million shares were traded on the southern bourse, worth VND5.3 trillion (US$228 million).

Market breadth was positive with 304 decliners and 127 gainers.

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, increased 0.75 per cent to close Monday at 899.27 points.

In the VN-30 basket, 20 stocks gained ground, seven decreased and three remained flat.

On the global market, investors are prepared for short-term trading turmoil on the eve of Tuesday’s US election.

On the Vietnamese stock market, decreasing liquidity and positive market breadth indicated the positive trading sentiment was likely to continue, said BIDV Securities Co.

The market continued to expand in momentum and investors were cheered by cash flowing into leading groups such as banking stocks.

Cash was injected into banking stocks like Asia Commercial Joint Stock Bank (ACB), Bank for Investment and Development of Viet Nam (BID), Vietcombank (VCB), Sacombank (STB), Military Bank (MBB), VPBank (VPB) and Techcombank (TCB).

Stocks in the securities industry also gained such as VNDirect Securities Co (VND), Viet Capital Securities Joint Stock Company (VCI), Ho Chi Minh City Securities Corporation (HCM) and Saigon Securities Incorporation (SSI).

Other blue-chip stocks also performed well like Bao Viet Holdings (BVH), FPT Corporation (FPT), Hoa Phat Group (HPG), Masan Group (MSN), Vietjet (VJC), Vincom Retail (VRE), Phu Nhuan Jewelry (PNJ) and Mobile World Group (MWG).

On a sector basis, 21 of 25 sector indices gained ground, including real estate, retail, energy, banking, seafood processing, construction materials, logistics, plastics and chemical production, wholesale, insurance, securities, information and technology, health care, food and beverage and construction.

The minor HNX-Index on the Ha Noi Stock Exchange increased 1.13 per cent to end Monday at 136.87 points.

The northern market index plunged a total of 4.49 per cent last week.

More than 34 million shares were traded on the northern exchange, worth VND377 billion.

Foreign investors' net sold VND508.17 billion on HOSE. Foreigners were net sellers on the HNX with a value of VND1.31 billion. — VNS

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