VN shares remain positive on high corporate-earnings expectations

Wednesday, Jan 10, 2018 12:45

Share prices displayed on screens at Tan Viet Securities Company. - Photo

Vietnamese shares ended Wednesday’s morning session on a positive note, dominated by investor confidence in the potential of quarterly corporate earnings.

The benchmark VN Index on the HCM Stock Exchange added 0.92 per cent to close at 1,043.06 points. It had gained total 2 per cent in the previous two sessions.

The minor HNX Index on the Ha Noi Stock Exchange edged up 0.31 per cent to end at 122.52 points, extending growth from a two-day increase of 2.7 per cent.

More than 270.8 million shares were traded on both local exchanges, worth VND5.85 trillion (US$260 million).

The market trading condition was dominated by 28 gaining stocks against 184 decliners. Some 110 other stocks ended flat.

Cash continued to flow into company shares on expectations of good quarterly and yearly earnings reports, such as financial-banking firms, seafood producers, construction companies and property developers.

Strong gainers among those companies included Eximbank (EIB), which jumped 4.9 per cent; Viet Dragon Securities (VDS) and FPT Securities (FTS), which surged 6.5 per cent and 6.3 per cent; and Sai Gon Thuong Tin Real Estate (SCR), which soared 6.9 per cent.

The energy sector remained upbeat, driven by the strong growth of PetroVietnam Mud Drilling (PVC), PetroVietnam Technical Services (PVS) and PetroVietnam Drilling and Well Services (PVD).

The afternoon trade session starts at 1pm. – VNS

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