Shares advanced for a third session on the HCM Stock Exchange on Tuesday as property developers and energy firms were able to maintain momentum.

The benchmark VN Index inched up 0.15 per cent to close at 850.33 points, making up a three-day increase of total 2 per cent.

The index growth could have been higher if it had not suffered from intraday profit-taking. The VN Index grew as much as 0.64 per cent during the session.

More than 584.7 million shares were traded on the southern bourse, worth VND20.4 trillion (US$909.6 million) – reaching the market’s highest trading liquidity figures.

The trading figures posted an increase of 3.4-fold in volume and 3.2-fold in value compared to Monday.

The robust improvement of trading liquidity was attributed to foreign trading of Vincom Retail (VRE) shares as foreign investors exchanged about VND16.8 trillion worth of 415 million VRE shares via put-through transactions.

The identity of both sellers and buyers in VRE deals remained undisclosed.

Foreign investors posted a net buy value of VND5.5 trillion for VRE shares, equal to nearly 97 per cent of their total net buy value made on Tuesday.

Shares of the largest retailer closed flat at VND40,550 per share at the end of the trading session. VRE rose as much as 20 per cent on the company’s Monday debut.

The factors that boosted the major stock market index on Tuesday were property developers and energy firms.

Vincom Retail’s parent company – property developer Vingroup (VIC) – advanced 2.5 per cent. Other real estate shares also rose, including Nam Long Investment Corp (NLG) and Phat Dat Real Estate Development JSC (PDR).

In addition, recent gains in global crude prices helped PetroVietnam Drilling and Well Services (PVD) leap by 5 per cent. PVD has gained more than one-fifth since early October.

Brent crude has moved up by nearly 15 per cent in the last month and 41 per cent since June 21, trading at $64.10 a barrel.

On the Ha Noi Stock Exchange, the HNX Index fell 0.25 per cent to end at 104.83 points, retreating from a two-day increase of total 1.6 per cent.

Nearly 40.8 million shares were traded on the northern bourse, worth VND464.3 billion.

The VN Index was able to keep rising and maintained its short-term upward trend, Bao Viet Securities Company said in its daily report.

However, the trading liquidity showed no improvement without the value of put-through transactions while the benchmark index had to retreat on strong intraday selling pressure, the company said.

“That proves investors were getting more cautious and concerned about the supply of the stocks that had been purchased at low-price levels in the previous sessions.”

“The benchmark index could face strong profit-taking pressure and turn downwards if it reaches the level of 855 points in coming sessions,” the company said. — VNS