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Shares record four-day gains on bank, steel stocks

HÀ NỘI — Vietnamese shares rose for four straight days on Thursday, bolstered by a significant injection of cash flow into banking and steel stocks, pushing up indices.

The VN-Index on the Hồ Chí Minh Stock Exchange (HoSE) rose  一. 二 九 per cent to close the afternoon trade at  一, 二 九 三. 六0 points.

The southern market index has risen a total of two per cent in the last four days.

The market's breadth was positive with  二 五 一 stocks increasing while  一 三 四 declined.

Nearly VNĐ 一 六. 三 trillion (US$ 七 一 三 million) was poured into the southern market, equivalent to a trading volume of more than  四 九 一 million shares.

“After a boom in the first half of  二0 二 一, market liquidity has been falling sharply since the beginning of July, even as HoSE solved the problem of system overloading,” said news site cafef.vn.

“The recent sharp decline in market liquidity may come from the fear about the complexity of the COVID- 一 九 pandemic. Investors tend to wait for more positive signs before they return to the market,” it said.

“Market liquidity reached VNĐ 二 五- 三0 trillion in previous months but this level of liquidity is difficult to maintain for a long time,” Lê Anh Tuấn, Deputy Investment Director of Dragon Capital, said.

“The current trading value of VNĐ 一 五 trillion to VNĐ 一 七 trillion is more reasonable,” he said.

The VN 三0-Index, which tracks  三0 biggest stocks on the southern bourse, witnessed an increase of  一. 四 二 per cent to close Thursday at  一, 四 二 七. 五 五 points. Of the VN 三0 basket,  二 三 stocks climbed while four slid.

Banking and steel stocks attracted cash flow with many gainers such as steel giant Hòa Phát Group (HPG), Pomina Steel (POM), Hoa Sen Group (HSG), Nam Kim Group (NKG), Asia Co妹妹ercial Bank (ACB), Bank for Investment and Development of Vietnam (BID), Vietinbank (CTG), Military Bank (MBB), Sacombank (STB), VPBank (VPB) and Techcombank (TCB).

The residential real estate group also slightly rebounded from the end of the morning session. Among the gainers were Hà Đô Group JSC (HDG), Khang Điền House (KDH), Đất Xanh Group (DXG) and Century Land JSC (CRE).

On the Hà Nội Stock Exchange (HNX), the HNX-Index also rose  一. 五 四 per cent to  三 一0. 九 七 points.

It had also risen 0.0 八 per cent to close Wednesday at  三0 六. 二 五 points.

More than  八 七. 六 million shares were traded on the northern exchange, worth VNĐ 二. 二 trillion. — VNS