Illustrative image (Photo: VNA)
 
Hanoi (VNA) - Shares advanced for a second day on the two exchanges on March 30 as investors continued to show their confidence in the market outlook.

The benchmark VN-Index on the HCM Stock Exchange retreated from the day-high at nearly 726 points to close at 723.9 points, up 0.5 percent over the previous session, and the highest recorded since February 20, 2006.

On the Hanoi Stock Exchange, the HNX-Index edged up 0.5 percent to end at 91.1 points. The northern market index inched up 0.1 percent on March 29.

Liquidity remained positive with a total of 242 million shares worth 4.3 trillion VND (190.4 million USD) being traded in the two markets.

Big firms in pharmaceutical, food-beverage and financial industries led the upturn.

Drug companies were the biggest gainers with an average industry growth of 2.83 percent on March 30.

Shares of DHG (DHG) and Traphaco (TRA) climbed 0.6 percent each thanks to their rosy earnings results.

Net profit of DHG Pharmaceutical increased by 33 billion VND at the end of 2016, or 15 percent year-on-year, after audit to over 255 billion VND. Meanwhile, Traphaco on March 30 report in its annual shareholders’ meeting an after-tax profit of 210 billion VND in 2016, a year-on-year growth of 18 percent. It has targeted a net profit of 240 billion VND this year, up 14 percent year-on-year.

Other drug manufacturers like Imexpharm Corp (IMP) and Benovas Pharmaceutical (DCL) also rose substantially.

In the food and beverage group, the two biggest listings, dairy giant Vinamilk (VNM) and brewery Sabeco (SAB) increased by 1.6 percent and 1 percent, respectively, both accounting for 0.26 percent of the VN-Index’s growth.

Banks lost their morning gains when Vietcombank (VCB), the second biggest listed lender, decreased 0.3 percent. However, five other banks including BIDV (BID), Military Bank (MBB), Sacombank (STB), Asia Commercial Bank (ACB) and Sài Gòn-Hanoi Bank (SHB) leapt between 0.4-2 percent.

According to analysts at Vietnam Investment Securities Joint Stock Company, the VN-Index will likely extend its gains and move in the range of 723-725 points.

The Ministry of Industry and Trade on March 30 decided to impose anti-dumping duties on imported coated steel from China and the Republic of Korea. This decision is expected to help local steel manufacturers better compete in the home market and boost the performance of steel companies.-VNA