Investors during a trading session at an ACB Securities Company trading platform (Photo: VNA)

Hanoi (VNA) - Vietnamese shares extended gains for a third day on the two local exchanges, driven by large-cap stocks, while market trading liquidity improved on higher investor confidence.

The benchmark VN Index on the HCM Stock Exchange rose 0.8 percent to close at 668.48 points on September 21. The southern market index has rallied 2.6 percent in the last three sessions.

The HNX Index on the smaller Hanoi Stock Exchange added 0.4 percent to finish at 83.25 points, extending its gains to 1.1 percent over the last three days.

“Large-cap stocks were still the major factors that determined the market’s trend as investors showed an improvement in their sentiment after the exchange-traded funds finished reviewing their investment portfolios last week,” BIDV Securities Co (BVSC) wrote in its daily report.

In the sub-index VN30, which contains the 30 largest listed firms by market capitalisation and liquidity, 19 stocks advanced while nine fell.

The advancers included dairy firm Vinamilk (VNM), property and the retail company Vingroup JSC (VIC), insurer Bao Viet Holdings (BVH) and Sai Gon Securities Inc (SSI), which rose by up to 2.8 percent.

The energy sector also made improvements as crude prices bounced back from a slight fall on September 20.
Among local energy firms, PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Services Corp (PVD) and PetroVietnam Coating Corp (PVB) increased by 2.4 percent, 2.6 percent and 2.7 percent, respectively.

On September 21, foreign net buy value reached 385.72 billion VND (17.1 million USD) on the southern bourse, the highest since the beginning of the year, while shifting from net buying status to net selling on the northern bourse with a net sell value of nearly 23 billion VND.

There was no change for the daily reference mid-point rate, which has been used by the central bank since early January to control trading between the Vietnamese dong and the US dollar, with the mid-point rate flat at 21,953 VND.

“The market’s gains also resulted in higher trading liquidity as positive economic news from both local and international markets bolstered investor confidence in Vietnamese shares,” Sai Gon-Hanoi Securities Co (SHS) said in a note.

About 3.83 trillion VND worth of more than 195.3 million shares was traded on the two local exchanges yesterday, an increase of 22 percent in volume and 8.2 percent in value from September 20.-VNA