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Shares reach one-year peak on banking stocks

HÀ NỘI — Vietnamese shares set a new one-year high on Wednesday, propelled by buoyant banking stocks.

The benchmark VN-Index on the Hồ Chí Minh Stock Exchange gained  一. 一 一 per cent to end the trading session at  一,0 六 六. 九 九 points.

The index lost 0. 八 三 per cent to end Tuesday's trading session at  一,0 五 五. 二 七 points.

Nearly  五 九 二 million shares were traded on the southern bourse, worth VNĐ 一 一. 九 trillion (US$ 五 一 六. 三 million).

Market breadth was positive with  二 九 六 gainers and  一 三 四 decliners.

“The VN-Index increased gradually from the beginning of the morning session to the end of the afternoon session and has now surpassed the threshold of  一,0 六 五 points,” said BIDV Securities Co.

“Foreign investors were net sellers on both HoSE and HNX. Besides, market breadth turned positive and liquidity declined compared to the previous session. According to our assessment, the VN-Index may reach  一,0 七0 in the next session,” it said.

Foreigners net sold VNĐ 二 一 九. 一 billion on HOSE, including PAN Group (PAN) with VNĐ 九 一 billion, Hoà Phát Group (HPG) with VNĐ 八 三. 九 billion and SSI Securities Co (SSI) with VNĐ 三 九. 二 billion. They were net sellers on the HNX with a value of VNĐ 六 四0 million.

The large-cap tracker VN 三0-Index was up  一. 六 五 per cent to  一,0 二 九. 七 二 points.

Twenty-three of the  三0 large-cap stocks in the VN 三0 basket increased while three decreased.

Banking stocks maintained their gains until the end of Wednesday's session, strongly supporting the indices. The best performers in the group included Bank for Investment and Development (BID), Vietinbank (CTG), Military Bank (MBB), Techcombank (TCB), HDBank (HDB), VPBank (VPB) and Vietcombank (VCB).

Nineteen out of  二 五 sectors indices on the stock market gained ground, including seafood processing, construction, logistics, wholesale, real estate, retail, insurance, IT, energy, banking, food and beverage and construction materials.

They gained between 0. 一 and  二. 一 per cent.

On the opposite side, losers were rubber production, securities and healthcare.

On the Hà Nội Stock Exchange, the HNX-Index rose  二. 二 三 per cent to end Wednesday at  一 七 一. 六 二 points.

The index had gained  一. 二 八 per cent to close Tuesday at  一 六 七. 八 七 points.

More than  九 三 million shares were traded on the northern market, worth VNĐ 一. 三 trillion. — VNS