Viet Nam’s benchmark VN Index hit a new high on Monday morning, boosted by large-cap stocks, due to positive investor confidence.

The VN Index on the HCM Stock Exchange rose 1.46 per cent to close at 1,191.58 points. It gained a total of 1.8 per cent last week.

More than 132.7 million shares were traded on the southern bourse, worth VND4 trillion (US$181.3 million).

The market trading condition was positive with 137 gaining stocks against 114 declining ones and 66 others ending flat.

Large-cap stocks performed well to boost the southern exchange as the large-cap VN30 Index increased by 1.5 per cent to 1,170.42 points.

Twenty of the 30 largest-cap stocks by market capitalisation in the VN30 basket advanced, including FLC Faros Construction (ROS), insurer Bao Viet Holdings (BVH), Saigon Securities Inc (SSI), Binh Minh Plastic (BMP) and Vietcombank (VCB).

In all 20 sectors on the stock market, the strongest performing industries were securities firms, insurance-finance companies, banks and property developers.

Among all large-cap stocks, property developer Vingroup (VIC) jumped 3.2 per cent to VND121,000 per share.

At this price level, Vingroup has overcome dairy producer Vinamilk to become the largest listed company by market capitalisation.

The market value of Vingroup has reached VND319.16 trillion while that of Vinamilk fell to VND290 trillion as Vinamilk shares (VNM) dropped 1.6 per cent on Tuesday morning.

On the Ha Noi Stock Exchange, the HNX Index was up 1.48 per cent to end at 134.41 points. It inched up a total of 0.4 per cent last week.

Nearly 28.3 million shares were traded on the northern exchange, worth VND506.2 billion.

The UPCOM Index on the Unlisted Public Company Market (UPCoM) closed flat at 60.66 points from last week’s ending level.

The afternoon trading session starts at 1pm. — VNS