VN-Index jumps over 1 per cent on recoveries of large-cap stocks
Shares settled higher on Tuesday, as investors’ risk appetite returned while foreign investment flew back to the market.
Shares settled higher on Tuesday, as investors’ risk appetite returned while foreign investment flew back to the market.
The market benchmark VN-Index on the Ho Chi Minh Stock Exchange (HoSE) jumped 14.32 points, or 1.08 per cent, to 1,339.31 points. The recovery claimed back the previous session’s losses of more than 24 points due to selling force.
The market’s breadth was positive as 265 stocks climbed while 118 stocks declined. However, the liquidity was lower than yesterday, with over 623.5 million shares traded on the southern bourse, worth nearly VND13.4 trillion (US$805 million).
The index was boosted by large-cap stocks, especially in energy, manufacturing and banking sectors. The VN30-Index, tracking 30 biggest stocks on HoSE, rose 11.92 points, or 0.83 per cent, to 1,451.12 points. Twenty-four stocks of the VN30 basket inched higher yesterday, while only four slid and two ended flat.
Energy stocks still dominated the afternoon session, backed by robust growth of global crude prices. In the international market, oil prices hit 3-year highs on improved global demand and tight supplies.
Continuously leading the index’s gain, PetroVietnam Gas (PVGas, GAS) surged 5.67 per cent yesterday. Other energy stocks supporting the benchmark were Petrolimex (PLX), up 2 per cent, and PetroVietnam Drilling & Well Services Corporation (PVD), up nearly 7 per cent.
Large-cap stocks like Hoa Phat Group (HPG), Vietcombank (VCB), BIDV (BDI) and Bao Viet Holdings (BVH) also contributed to the market’s rallies, up in a range of 1.22 - 3.89 per cent.
On the Ha Noi Stock Exchange (HNX), the HNX-Index inched up 3.02 points, or 0.86 per cent, higher to close yesterday at 356.03 points.
During the session, investors poured more than VND3.2 trillion into the northern market, equivalent to a trading volume of nearly 159.2 million shares.
Meanwhile, foreign investors returned to the market after net buying a total value of VND473.09 billion on both main exchanges. Of which, they net bought a value of VND482.71 billion on HoSE, while net sold a value of VND9.62 billion on HNX.
On the Asian markets, shares mainly fell lower yesterday as investors continued to be concerned over China Evergrande Group’s debt crisis. — VNS
