A trading scoreboard at the MB Securities Company. (Photo: VNA)Hanoi (VNA) - Shares rose on the two local exchanges on March 20,driven by high investor confidence on expectations of positive earnings reportsfrom listed companies.
Thebenchmark VN Index on the HCM Stock Exchange rose 0.6 percent to close at715.07 points, ending positive compared to the decline of 0.6 percent on March 17.
More than175.28 million shares were traded on the southern bourse, worth 4.02 trillion VND (179.95 million USD).
The VNIndex performed well on Monday after it was put under pressure fromexchange-traded funds (ETFs) increasing their trading activities in theirfirst-quarter portfolio reviews, BIDV Securities Corp (BSC) said in a note.
“Investorconfidence has improved,” BSC said, adding that positive investor sentimenthelped lift the stock market in spite of long-term negative effects from theFed’s rate hike last week and the decline of Faros Construction Corp’s shareprice.
BSC also said in its latestweekly report that investors would turn their attention to stocks with goodbusiness prospects and positive information.
Finance-banking stocks werethe ones that received high interest from investors as they were expected torelease positive earnings reports for the first-quarter performances.
Eight of the nine listedbanks advanced yesterday with Asia Commercial Bank (ACB), Eximbank (EIB),MBBank (MBB), Sacombank (STB) and Vietcombank (VCB) among the biggest gainers.
The insurance sector wasdriven up by Bao VietHoldings (BVH), while brokerage firms that saw share prices increase were HCMCity Securities Corp (HCM), MB Securities Corp (MBS), Sai Gon Securities Inc (SSI) andVNDirect Securities Corp (VND).
Otherblue chips also supported the positive direction of the stock market, includingVietjet Aviation JSC (VJC), southern brewer Sabeco (SAB), consumer goodsproducer Masan Group (MSN) and steel makers HaaPhat Group (HPG) and Hoa SenGroup (HSG).
On theopposite side, dairy producer Vinamilk (VNM), Faros Construction Corp (ROS) andproperty developer Vingroup (VIC) declined and prevented the southern marketfrom rising higher.
“The VN Index may continueto move in the range of 710 and 720 points as there is not much positive marketnews that could lift the index further,” BSC said.
Investors must keep a closewatch on the movement of some large-cap stocks such as ROS as that stock hasfallen for three consecutive days and its negative trend would have negativeimpact on the stock market, BSC added.
On the Hanoi Stock Exchange, the HNXIndex added 0.7 percent to end at 89.03 points. The northern market index hasrallied a total 2.3 percent in the last five sessions.
More than50.6 million shares were exchanged in the northern market, worth 656.8 billion VND.-VNA
Thebenchmark VN Index on the HCM Stock Exchange rose 0.6 percent to close at715.07 points, ending positive compared to the decline of 0.6 percent on March 17.
More than175.28 million shares were traded on the southern bourse, worth 4.02 trillion VND (179.95 million USD).
The VNIndex performed well on Monday after it was put under pressure fromexchange-traded funds (ETFs) increasing their trading activities in theirfirst-quarter portfolio reviews, BIDV Securities Corp (BSC) said in a note.
“Investorconfidence has improved,” BSC said, adding that positive investor sentimenthelped lift the stock market in spite of long-term negative effects from theFed’s rate hike last week and the decline of Faros Construction Corp’s shareprice.
BSC also said in its latestweekly report that investors would turn their attention to stocks with goodbusiness prospects and positive information.
Finance-banking stocks werethe ones that received high interest from investors as they were expected torelease positive earnings reports for the first-quarter performances.
Eight of the nine listedbanks advanced yesterday with Asia Commercial Bank (ACB), Eximbank (EIB),MBBank (MBB), Sacombank (STB) and Vietcombank (VCB) among the biggest gainers.
The insurance sector wasdriven up by Bao VietHoldings (BVH), while brokerage firms that saw share prices increase were HCMCity Securities Corp (HCM), MB Securities Corp (MBS), Sai Gon Securities Inc (SSI) andVNDirect Securities Corp (VND).
Otherblue chips also supported the positive direction of the stock market, includingVietjet Aviation JSC (VJC), southern brewer Sabeco (SAB), consumer goodsproducer Masan Group (MSN) and steel makers HaaPhat Group (HPG) and Hoa SenGroup (HSG).
On theopposite side, dairy producer Vinamilk (VNM), Faros Construction Corp (ROS) andproperty developer Vingroup (VIC) declined and prevented the southern marketfrom rising higher.
“The VN Index may continueto move in the range of 710 and 720 points as there is not much positive marketnews that could lift the index further,” BSC said.
Investors must keep a closewatch on the movement of some large-cap stocks such as ROS as that stock hasfallen for three consecutive days and its negative trend would have negativeimpact on the stock market, BSC added.
On the Hanoi Stock Exchange, the HNXIndex added 0.7 percent to end at 89.03 points. The northern market index hasrallied a total 2.3 percent in the last five sessions.
More than50.6 million shares were exchanged in the northern market, worth 656.8 billion VND.-VNA
VNA
