A Vincom Centre located on Nguyen Chi Thanh Street, Ha Noi. The darlings of the VN-Index today were all part of the “Vin” family, who reported impressive gains. — Photo vietnamfinance.vn

Vietnamese shares surged on Friday with the VN-Index hitting a one-year high, propped up by positive sentiment and flourishing “Vin” stocks.

The VN-Index on the Ho Chi Minh Stock Exchange soared 1.68 per cent to close Friday at 1.015,59 points.

It was the strongest session the VN-Index had seen since March 12, when the index exceeded the 1,000-point mark for the first time this year to close at 1001.32 points.

Trading liquidity reached a two-week high with 241.3 million shares exchanged on the southern bourse worth VND5.1 trillion (US$218 million).

The southern index dropped 0.21 per cent to end Thursday at 998.82 points.

The darlings of the VN-Index yesterday were members of the “Vin” family who reported impressive gains and supported the index, including Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE).

VHM hit its daily limit after information spread about the company planning to buy back a maximum of 60 million shares, equivalent to 1.79 per cent of its capital.

Similarly, VRE surged by 5.6 per cent. The company also revealed it plan to buy back a maximum of 56.5 million shares, equivalent to 2.42 per cent of the firm’s capital.

Their parent company, giant IT-real-estate-manufacturing-retail conglomerate Vingroup, also recorded an increase of 2.9 per cent to VND122,500 per share.

The banking sector performed well with gainers including Viet Nam International Commercial Joint Stock Bank (VIB), Vietinbank (CTG) and Vietcombank (VCB), all rising by more than 1 per cent.

On a sector basis, retail, wholesale, seafood production, rubber production, banking, insurance, securities, real estate, healthcare, construction material, food and beverages and oil and gas moved up.

On the opposite side, construction, agriculture and logistics declined.

On the Ha Noi Stock Exchange, the HNX-Index rose 0.53 per cent to end Friday at 105.75 points.

The northern index lost 0.66 per cent to close Thursday at 105.19 points.

Foreign investors bought a net value of VND253.8 billion on HOSE, including Vincom Retail (VRE) (VND104.45 billion), Vinhomes (VHM) (VND74.11 billion) and Vinamilk (VNM) (VND53.89 billion).

According to Bao Viet Securities Company, as of October 31, 556 listed companies on the HOSX and HNX had released their business results for Q3 2019, with capitalisation accounting for 92 per cent of the entire market.

Profit increased by 18.76 per cent from Q3 2018. Increased profits were reported by 253 of the 556 companies.

The sectors with the highest profit growth included insurance (+49 per cent), banking (+43.17 per cent), food and beverages (+28 per cent), and real estate (+17 per cent). — VNS