Investors watch share prices move at ACB Securities Company. (Photo: VNA/VNS)Hanoi (VNA) - Vietnamese shares rose for a second session on July 26on both local exchanges with investors picking up stocks on expectations offuture market prospects.
The benchmark VN-Index on the HCM Stock Exchange gained 0.86 percent to closeat 773.88 points.
The HNX-Index on the Hanoi Stock Exchange increased 1.65 percent to end at99.43 points.
The two indices advanced nearly 1 percent each on July 25.
Market trading liquidity improved with more than 281.4 million shares beingtraded on both local exchanges, worth 4.45 trillion VND (197.8 million USD).
July 26’s trading figures were 20 percent higher in trading volume and 7.1 percentlower in trading value compared to July 25. However, July 25’s trading valueremained higher than the average trading value of the previous five sessions.
The stock market wasboosted by shares of property developers, financial-banking firms and energycompanies.
Financial-banking and property stocks remained among the most attractive assetson expectations that they would release higher earnings reports for the secondquarter and the first six months of the year.
In the banking sector, MBBank (MBB) ended flat, while eight other bank stocksmade gains with Vietinbank (CTG), Eximbank (EIB), Sacombank (STB), Saigon-HanoiBank (SHB) and Asia Commercial Bank (ACB) rising at least 1.3 percent.
Other financial stocks such as brokerages and insurance firms also movedforward. Those gainers included insurance-finance group Bao Viet Holdings(BVH), Saigon-Hanoi Securities (SHS), MB Securities (MBS) and VietinbankSecurities (CTS).
The property sector was lifted by Dat Xanh Real Estate Service and ConstructionCorp (DXG), Sacomreal JSC (SCR) and FLC Group (FLC).
Dat Xanh Real Estate Co has reported its post-tax profit after the first sixmonths rose 64 percent year on year to 270 billion VND.
Shares of energy firms such as PetroVietnam Gas (GAS), PetroVietnam Drillingand Well Services (PVD) and PetroVietnam Technical Services (PVS) benefitedfrom a three-day rally in oil prices. Brent crude advanced 0.5 percent to tradeat 50.48 USD a barrel. It had gained total 4.4 percent in the previous threesessions.
The benchmark VN-Index has returned to its short-term upward trend with marketliquidity being improved from the previous sessions, Tran Xuan Bach, an analystat Bao Viet Securities Co, said in a note.
“There are signs that market trading volume is increasing and the marketcondition is positive, proving that investor sentiment is getting better asthey bet on the market’s rising prospects,” he said.
However, Bach warned that profit-taking pressure may arise during July 27’s sessionas the VN-Index had bounced back strongly in the last two days and the test forit would be the 775-point level.-VNA
Financial-banking and property stocks remained among the most attractive assetson expectations that they would release higher earnings reports for the secondquarter and the first six months of the year.
In the banking sector, MBBank (MBB) ended flat, while eight other bank stocksmade gains with Vietinbank (CTG), Eximbank (EIB), Sacombank (STB), Saigon-HanoiBank (SHB) and Asia Commercial Bank (ACB) rising at least 1.3 percent.
Other financial stocks such as brokerages and insurance firms also movedforward. Those gainers included insurance-finance group Bao Viet Holdings(BVH), Saigon-Hanoi Securities (SHS), MB Securities (MBS) and VietinbankSecurities (CTS).
The property sector was lifted by Dat Xanh Real Estate Service and ConstructionCorp (DXG), Sacomreal JSC (SCR) and FLC Group (FLC).
Dat Xanh Real Estate Co has reported its post-tax profit after the first sixmonths rose 64 percent year on year to 270 billion VND.
Shares of energy firms such as PetroVietnam Gas (GAS), PetroVietnam Drillingand Well Services (PVD) and PetroVietnam Technical Services (PVS) benefitedfrom a three-day rally in oil prices. Brent crude advanced 0.5 percent to tradeat 50.48 USD a barrel. It had gained total 4.4 percent in the previous threesessions.
The benchmark VN-Index has returned to its short-term upward trend with marketliquidity being improved from the previous sessions, Tran Xuan Bach, an analystat Bao Viet Securities Co, said in a note.
“There are signs that market trading volume is increasing and the marketcondition is positive, proving that investor sentiment is getting better asthey bet on the market’s rising prospects,” he said.
However, Bach warned that profit-taking pressure may arise during July 27’s sessionas the VN-Index had bounced back strongly in the last two days and the test forit would be the 775-point level.-VNA
VNA
