Shares rise for fourth straight session hinh anh 1An investor watches share movements via an online trading board. (Photo: VNA)

Hanoi (VNA) - 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.

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

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

The northern index expanded 2.5 percent this week.

Bank stocks momentum continued with eight of nine listed banks posting gains.

Four of 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.

On Hanoi bourse, Asia Commercial Bank (ACB) and Saigon-Hanoi Bank (SHB) climbed 5.2 percent and 4.4 percent, respectively.

According to analysts at Vietstock Finance, investors are betting on stocks which promise positive earnings prospects.

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

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

Many large-cap stocks declined such as steelmakers Hoa Phat Group (HPG) and Hoa Sen Group (HSG), Vinamilk (VNM), PV Gas (GAS) and PetroVietnam Drilling and Wells Service (PVD).

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

Foreign investors 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 compared to 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 108 billion VND.-VNA