An investor watches stock movements at Bao Viet Securities Company (Photo: VNA)Hanoi (VNA) - Vietnameseshares closed on December 26 on a positive note as large-cap stocks wereboosted by expectations for better quarterly earnings and rising oil prices.
The benchmark VN Index on the HCM StockExchange gained 0.80 percent to close at 965.93 points, extending its rise fora third day with total growth of 2.1 percent.
More than 186 million shares were traded onthe southern bourse, worth 5.25 trillion VND (233.4 million USD).
Market trading condition was balanced with154 gaining stocks, 132 declining ones and 54 stocks that ended flat.
Large-cap stocks performed well andremained the most important factor that pulled the southern exchange up.
The VN30 Index, that tracks the performanceof the 30 largest stocks by market capitalisation, was up nearly 0.7 percent to955.73 points with 22 advancing stocks.
On a sector basis, insurance, banking,brokerage, energy, and food and beverage industries had the highest growthrate. The five sector indices advanced between 0.62 percent and 2 percent.
The best-performing stocks in the fivesectors included Bank for Investment and Development of Vietnam (BID),PetroVietnam Gas (GAS), PetroVietnam Drilling and Well Services (PVD),Sacombank (STB), food and beverage producer Masan (MSN), dairy producerVinamilk (VNM) and Vietinbank (CTG).
[Experts optimistic about 2018 stock market prospects]
Other sector-leading shares that also madegains were logistics firm Gemadept (GMD), PetroVietnam Power Nhon Trach 2(NT2), steel producer Hoa Sen Group (HSG), digital retailer Mobile World (MWG)and FLC Faros Construction (ROS).
Foreign investors on December 26 posted anet buy value of 154.5 billion VND, which was an improvement from a net foreignsell value of 75 billion VND on the previous day.
On the Hanoi Stock Exchange, the HNX Indexadded 0.73 percent to close at 114.06 points. The northern market index hasincreased by 0.9 percent in total after the last two sessions.
More than 54.6 million shares were tradedon the northern market, worth 813.7 billion VND.
According to KIS Vietnam Securities Corp(KIS), the benchmark VN Index is approaching the expected level of 970 pointsas rising oil prices and expectations for positive growth of fourth-quarterearnings reports are supporting energy stocks and other leading sectors such asbanking-financial and food and beverage industries.
Brent crude onTuesday traded at 65.10 USD a barrel, marking total growth of 4.3 percent inthe past two weeks. It has advanced total 45 percent since the one-year low of 45.82USD a barrel on June 21.
Investor confidence is expected tostrengthen on Wednesday and in the final sessions of 2017, thus improvingmarket liquidity, KIS said in its daily report.
However, investors should be careful withthe current upward movement of the stock market as stocks could be hit by shortselling, which may hit those that had recently made good gains such as energyshares, KIS warned. -VNA
VNA
