Markets advance on investor confidence

The benchmark VN Index on the HCM Stock Exchange rose 0.3 per cent to close Monday morning at 763.45 points. — Photo tinnhanhchungkhoan.vn

Shares gained on Monday morning in both national stock exchanges on rising investor confidence with regard to a positive market outlook.

The benchmark VN Index on the HCM Stock Exchange rose 0.3 per cent to close at 763.45 points. On the Ha Noi Stock Exchange, the HNX Index edged up 0.72 per cent to end at 99.02 points.

Financial stocks saw strong gains as shares of leading banks and securities companies rose substantially.

Eight of the nine listed lenders on the two exchanges advanced, while closed unchanged.

Nam Viet Bank (NVB) on the northern bourse hit its ceiling limit of a 10 per cent rise, stopping at VND10,300 per share; other larger banks rose between 0.3 and 2.8 per cent.

The two largest listed securities firms, Saigon Securities Inc (SSI) and HCM Securities Corp (HCM), leapt 2.8 per cent and 1.6 per cent, respectively.

Other large-cap stocks such as Vinamilk (VNM), Petrolimex (PLX), PV Gas (GAS), Masan Group (MSN) and FPT Corp (FPT) also gained, contributing to the market rise.

At the other end, big companies such as VinGroup (VIC), brewery Sabeco (Sab), Vietjet (VJC) and Hau Giang Pharmaceutical (DHG) slumped.

A total of 143 million shares worth a combined VND2.7 trillion (US$119 million) were traded in the two exchanges.

The afternoon session starts at 1pm. — VNS



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