Vietnamese shares recorded gains for a third day in both local markets on June 30, boosted by high investor expectations for good corporate second quarter earnings. (Source: Photo congly.vn)Hanoi (VNA)- Vietnamese shares extended gains for a third day in both local markets on June30, boosted by high investor expectations for good corporate second quarterearnings reports.
The benchmark VN Index on the Ho Chi Minh StockExchange advanced 0.61 percent to close at 776.47 points.
The HNX Index on the Hanoi Stock Exchangeadded 0.35 percent to end at 99.14 points.
Both local stock indices have extendedrallies to a third session with total growth of 1.1 percent each.
The three-day increase also helped theindices grow approximately 1 percent week on week.
More than 239.7 million shares were traded onboth bourses, worth 4.5 trillion VND (200.4 million USD).
Large-cap stocks were the major factor thatlifted the stock market. 15 stocks in the VN30 Index rose.
The biggest gainers among those blue chipsincluded dairy producer Vinamilk (VNM), steel producer Hoa Phat Group (HPG),property developer Vingroup (VIC), Vietcombank (VCB) and Sai Gon Securities(SSI).
Securities companies pointed out that highinvestor expectations on companies’ second-quarter profit reports was the forcethat pushed the market indices.
The stock market is moving toward quarterlyearnings reports season, Vietnam Investment Securities Co (IVS) said in a note.
So far, none of the listed companies havepublished their earnings reports for the second quarter, but some haveannounced their results for May, IVS said.
Shares of companies like Sai Gon Securities,HCM City Securities, Refrigeration Electrical Engineering Co and Hoa BinhConstruction Group Joint Stock Co are forecast to rise further based on themarket expectation, the brokerage added.
Investor confidence in shares of brokeragefirms has improved in the second quarter, as market trading liquidity rose incomparison to the first quarter, increasing chances for those companies to havehigher earnings from share trading activities.
Total trading value on the three exchangessince the beginning of the second quarter has reached 270 trillion VND, anincrease of 36 percent from the first quarter and 70 percent year on year,online newspaper tinnhanhchungkhoan.vn reported on June 30.
The figure is forecast to rise further in theremaining months, especially when the derivatives market comes into operationin August, bringing more investment opportunities for investors, Nguyen Duc HungLinh, SSI analyst said.
In addition, energy stocks were supported byhigher oil prices. Brent crude gained 0.6 percent to trade at 47.7 USD abarrel.-VNA
The benchmark VN Index on the Ho Chi Minh StockExchange advanced 0.61 percent to close at 776.47 points.
The HNX Index on the Hanoi Stock Exchangeadded 0.35 percent to end at 99.14 points.
Both local stock indices have extendedrallies to a third session with total growth of 1.1 percent each.
The three-day increase also helped theindices grow approximately 1 percent week on week.
More than 239.7 million shares were traded onboth bourses, worth 4.5 trillion VND (200.4 million USD).
Large-cap stocks were the major factor thatlifted the stock market. 15 stocks in the VN30 Index rose.
The biggest gainers among those blue chipsincluded dairy producer Vinamilk (VNM), steel producer Hoa Phat Group (HPG),property developer Vingroup (VIC), Vietcombank (VCB) and Sai Gon Securities(SSI).
Securities companies pointed out that highinvestor expectations on companies’ second-quarter profit reports was the forcethat pushed the market indices.
The stock market is moving toward quarterlyearnings reports season, Vietnam Investment Securities Co (IVS) said in a note.
So far, none of the listed companies havepublished their earnings reports for the second quarter, but some haveannounced their results for May, IVS said.
Shares of companies like Sai Gon Securities,HCM City Securities, Refrigeration Electrical Engineering Co and Hoa BinhConstruction Group Joint Stock Co are forecast to rise further based on themarket expectation, the brokerage added.
Investor confidence in shares of brokeragefirms has improved in the second quarter, as market trading liquidity rose incomparison to the first quarter, increasing chances for those companies to havehigher earnings from share trading activities.
Total trading value on the three exchangessince the beginning of the second quarter has reached 270 trillion VND, anincrease of 36 percent from the first quarter and 70 percent year on year,online newspaper tinnhanhchungkhoan.vn reported on June 30.
The figure is forecast to rise further in theremaining months, especially when the derivatives market comes into operationin August, bringing more investment opportunities for investors, Nguyen Duc HungLinh, SSI analyst said.
In addition, energy stocks were supported byhigher oil prices. Brent crude gained 0.6 percent to trade at 47.7 USD abarrel.-VNA
VNA
