Shares advance on large-caps and petroleum stocks

August 26, 2020 | 15:06

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Shares advanced for three consecutive days on Wednesday morning as investors were seen buying petroleum and other large cap shares, believing them to be undervalued.

shares advance on large caps and petroleum stocks

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained 0.19 per cent to close Wednesday morning at 875.82 points.

It had gained 0.63 per cent to close Tuesday at 874.12 points.

More than 200 million shares traded on the southern exchange, worth VND3.5 trillion (US$150.9 million).

Market breadth was positive with 176 gainers and 193 decliners.

The VN30-Index, which tracks the performance of the 30 largest stocks by market capitalisation and liquidity on HoSE, rose 0.05 per cent to close Wednesday morning at 814.74 points.

In the VN30 basket, 15 of the 30 largest stocks by market capitalisation and trading liquidity increased. Nine lost ground and six were unchanged.

Strong cash flow poured into some large-caps such as Masan Group (MSN), Mobile World Group (MWG), Vingroup (VIC), Sabeco (SAB) and Vinamilk (VNM).

Petroleum group also outperformed with gainers of PetroVietnam Gas JSC (GAS), National Petroleum Group (PLX), PV Power (POW),

The HNX-Index on the Ha Noi Stock Exchange climbed 0.35 per cent to close Wednesday at 123.80 points.

It had climbed 0.17 per cent to close Tuesday at 123.37 points.

Nearly 38.6 million shares were traded on the northern bourse, worth VND466 billion.

VNA

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