Masan, Banks lift Vietnamese stocks hinh anh 1Investors at the trading floor of Vietinbank Securities Company. (Photo:
Hanoi (VNA) – Shares rallied for a third consecutive session on November 24, driving by consumer goods producer Masan Group’s dividend payment plan, while financial-banking stocks continued to perform well.

The benchmark VN Index on the HCM Stock Exchange edged up 0.2 percent to close at 683.16 points , marking a three-day increase of 1.5 percent.

The HNX Index on the Hanoi Stock Exchange rose 0.5 percent to end at 81.4 points, up 1 percent after three sessions.

“Consumer goods producer Masan Group (MSN) was the major focus of the market on November 23 with strong increases in both trading volume and price as the company planned to pay dividends for the first time in the last six years,” BIDV Securities Corp (BSC) wrote in its report.

The group said it will propose shareholders approve a plan to pay a 30 percent dividend in cash, or 3,000 VND per share, for 2015-16 performances, including an advance payment for this year.

The news boosted MSN by 6.7 percent with more than 2.15 million of the company’s shares being traded. MSN has jumped 10 percent in the last seven sessions.

The banking-finance sector remained positive. Among the nine listed banks, Vietcombank (VCB), MBBank (MBB), and Asia Commercial Bank (ACB) advanced between 0.4 percent and 1 percent.

On the opposite site, energy stocks retreated as oil prices fell in the Asian trading after Iran and Iraq, two large members of OPEC, left markets uncertain whether they would join OPEC and other producers to resolve the current global glut.

Dairy firm Vinamilk (VNM) suffered from foreign selling and stepped back 1.2 percent after rising 2.5 percent in the previous two trading days.

Market trading liquidity increased from November 22 with more than 152 million shares being exchanged worth nearly 2.89 trillion VND (128.4 million USD).-VNA
VNA source