An investor on the MB Securities (MBS) trading floor (Photo: VNA)Hanoi (VNA) - Shares shook sharply on November 21’s afternoon trade underincreased profit-taking activity but still closed higher thanks to solidinvestor confidence in the market outlook.
On the HCMStock Exchange, the VN-Index rallied 1.63 percent to end on November 21 at918.30 points after rising as high as 930 points in early afternoon trade. Thiswas the highest score since January 2, 2018.
Vietnameseshares have been bullish since the start of the year with the benchmarkVN-Index expanding over 38 percent.
Large-capstocks continued to be the major supporter behind the market’s rally. The top30 largest shares by market value and liquidity (VN30) gained 1.25 percent withmajor advancers including brewer Sabeco (SAB), up 4.4 percent; Vietcombank(VCB), up 3.8 percent; Petrolimex (PLX), up 5.4 percent; and Masan Group (MSN),up 5.6 percent.
VinGroup(VIC) and its retail arm Vincom Retail (VRE) extended their gains. While VREagain hit the daily limit rise of 7 percent on the day, VIC slowed down itsgrowth to just 0.9 percent. Market value of these two companies soared to total14 billion USD on the day.
The biggestlisted stock Vinamilk (VNM) also rose over 1 percent.
Overall, 116stocks advanced while 151 declined. Another 79 closed flat.
According toBIDV Securities Co (BSC), cash on November 21 was quite strong but focused inlarge caps as well as potential sectors such as banks and securities.
Over 230million shares worth nearly 6.5 trillion VND (285 million USD) were traded onthe HCM Stock Exchange, up 31 percent in volume and 14 percent in valuecompared to the previous session.
“The marketis in an uptrend and there is no resistance when the expectation of the indexincreasing is becoming stronger,” BSC’s analysts wrote in a report on November21.
Foreigninvestors returned as net buyers on the southern market after net selling theday ago. They picked up shares worth net value of 43.5 billion VND.
In contrast,shares on the Hanoi Stock Exchange declined for a second day with the HNX-Indexinching down 0.08 percent at 108.02 points. The northern market index lost 0.2 percenton November 20.
About 50million shares worth 690 million VND (30.3 million USD) were exchangedhere.-VNA
VNA
