Shares up on bank, property stocks

March 14, 2018 | 15:20

(0) user say

Shares continued to rise on Wednesday morning largely on the strength of a handful of banking and real estate blue chips.

Shares continued to rise on Wednesday morning largely on the strength of a handful of banking and real estate blue chips.

The benchmark VN Index on the HCM Stock Exchange edged 0.43 per cent to close at 1.138,15 points, totalling a three-day rise of 1.31 per cent.

The minor HNX Index on Ha Noi Stock Exchange was down 0.39 per cent to end at 130.17 points, expanding its three-day rally to 2.02 per cent.

More than 201.5 million shares, worth VND5 trillion, were traded on the two local bourses.

The market breadth was negative with 191 gaining shares, 223 declining ones and 322 stocks ending flat.

Blue-chip stocks were in the positive territory as 17 of the 30 largest-cap stocks by market capitalisation rose.

The gainers included property developer Vingroup (VIC), PetroVietnam Gas Corp (GAS) and Thành Thành Công-Biên Hòa Joint Stock Company (SBT).

A huge cash flow poured into banking and real estate stocks, driving up the market, with prominent stocks like Vietcombank (VCB) (2.36 per cent), HDBank (HDB) (3.9 per cent) and Hoa Binh Construction Group Joint Stock Company (HBC) (4.29 per cent).

The UPCOM Index on the Unlisted Public Company Market gained 0.1 per cent to stand at 61.31 points, reversing from a decline of 0.9 per cent on Tuesday.

The afternoon trading session starts at 1pm.

VNA

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional