Business

Shares rise for fourth straight session

Shares rose for a fourth consecutive session on the HCM Stock Exchange on December 6 but profit-taking selling increased which may disrupt the uptrend next week.
Shares rise for fourth straight session ảnh 1An investor watches share movements via an online trading board. (Photo: VNA)

Hanoi (VNA) - Shares rose for a fourth consecutive session on theHCM Stock Exchange on December 6 but profit-taking selling increased which maydisrupt the uptrend next week.

Onthe HCM Stock Exchange, the VN-Index edged up 0.6 percent to close at 679.8points and extended weekly gains to 2.2 percent.

Onthe Hanoi Stock Exchange, the HNX-Index rose 0.9 percent to end at 82.1 points,the highest level since November 2.

Thenorthern index expanded 2.5 percent this week.

Bankstocks momentum continued with eight of nine listed banks posting gains.

Fourof six lenders on the HCM City’s exchanges increased more than 2 percent,including Vietcombank (VCB), BIDV (BID), Sacombank (STB) and Eximbank (EIB).Military Bank (MBB) leapt 1.9 percent while Vietinbank (CTG) inched up 0.9 percent.

OnHanoi bourse, Asia Commercial Bank (ACB) and Saigon-Hanoi Bank (SHB) climbed5.2 percent and 4.4 percent, respectively.

Accordingto analysts at Vietstock Finance, investors are betting on stocks which promisepositive earnings prospects.

However,profit-taking pressure began to appear as the number of falling sharesincreased in the last session of the week, they wrote in a market report.

Overallconditions were negative as losing stocks outnumbered gaining ones by 241-195while 322 others closed flat.

Manylarge-cap stocks declined such as steelmakers Hoa Phat Group (HPG) and Hoa SenGroup (HSG), Vinamilk (VNM), PV Gas (GAS) and PetroVietnam Drilling and WellsService (PVD).

Liquidityincreased with a total of 153 million shares worth 3.24 trillion VND (143.4million USD) traded in the two markets, up nearly 21 percent in volume and 41 percentin value compared to the previous session.

Foreigninvestors ended as net buyers for the whole week on the two markets,responsible for total net value of 125.4 billion VND, a sharp increase comparedto just 29 billion VND worth of net buy value on the previous day.

However,their buys focused on shares of brewery giant Sabeco (SAB) with a net value of 108billion VND.-VNA
VNA
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