Shares soared on June 5 afternoon, driven by robust inflows on growing investor confidence.

The benchmark VN-Index on the Hochiminh Stock Exchange climbed 1.6 percent to close the session at 578.07 points. The market condition was positive as the number of advancers doubled the gainers, led by banks and blue chips.

The VN30 was up 0.81 percent to end at 592.22 points. Liquidity continued to build with the market volume rising 30 percent over the previous day to reach 147.7 million shares, while the value of trades also climbed around 20 percent, totalling 2.318 trillion VND (106.8 million USD).

"Cash flows remained positive although market momentum showed signs of weakening in the previous session. We think stock gains are less meaningful than the solidity of liquidity," analysts at BIDV Securities Co wrote.

Most analysts agreed investor confidence was strengthened by rising input, particularly strong rushes for hot stocks, and the market outlook is very optimistic. HCM City Infrastructure Investment Co (CII) continued to top the market with total trades of 14.2 million shares, soaring 6.82 percent in value to end the session at 23,500 VND (1.08 USD). Real estate giant FLC Group (FLC) came second with over 10 million shares traded, closing flat at 9,000 VND.

On the Hanoi Stock Exchange, the HNX-Index also jumped 2.14 percent to conclude the session at 86.71 points.

Money continued to focus on speculative stocks like Sai Gon Thuong Tin Real Estate Co (SCR) and KLF Joint Venture Global Investment Co (KLF), the two most active stocks here with 6 and 10 million shares traded each. A total of almost 70 million shares were exchanged, worth 848.2 billion VND (39.1 million USD), by the end of the session.

In contrast to domestic moves, foreign investors went on selling in the southern bourse, offloading shares worth 101 billion VND (4.7 million USD), but they kept buying on the Hanoi exchange, picking up shares worth 28 billion VND (1.3 million USD).-VNA