Illustrative photo (Photo: VNA)Hanoi (VNA) -Shares rose for a second day in the two local markets on April 27 on investoroptimism that the market will return to a positive trend soon.
The benchmark VN Index on the HCM Stock Exchange advanced 0.91 percent to endat 716.53 points. Vietnam’s key index has gained 1.3 percent in the last twodays.
The smaller HNX Index on the Hanoi Stock Exchange added 0.86 percent to finishat 89.32 points, a two-day increase of 1.7 percent.
More than 274 million shares were traded on both local bourses, worth nearly 4.68trillion VND (207.8 million USD).
Market trading liquidity increased from April 26 on both local bourses with anincrease of 41 percent in volume and 16.3 percent in value.
Gains were seen in 17 of the 20 industries in the stock market with shares ofenergy producers, property developers, food and beverage companies, andconstruction firms leading the way.
Foreign investors remained net buyers with a total net buy value of 124.8billion VND, focusing on PetroVietnam Technical Services (PVS), informationtechnology group FPT Corp (FPT), PetroVietnam Gas (GAS) and dairy producerVinamilk (VNM).
PVS surged 5.4 percent, FPT gained 1.1 percent, GAS added 2.4 percent and VNMrose 1.8 percent.
Gains by PVS and GAS were the major factors that pushed the energy industryforwards, followed by PetroVietnam Coating (PVB), which jumped 4 percent.
Other stocks that had strong gains included sugar producers Thanh Thanh Cong TayNinh (SBT) and Bien Hoa Sugar (BHS), which soared 5.6 percent and 3.3 percent.
The two largest sugar producers in the country have announced they will discussa merger between the two firms at their coming annual shareholder meetings. Ifthe deal is sealed, it will create a sugar company with total chartered capitalof 5 trillion VND.
Higher market trading liquidity in the last two sessions proved investors wereoptimistic that the stock market would continue to grow in the short term, BaoViet Securities (BVSC) said in its report.
The next test for the VN Index would be the level of 720 points, BVSC said,adding that the benchmark index would face a big challenge to surpass thislevel.-VNA
