Business

Stocks soar on positive outlook

Vietnamese shares advanced further on January 19 as investor sentiment was cushioned by recent strong recovery of the market and hopes for better corporate performance in 2018.
Stocks soar on positive outlook ảnh 1Brokers carry out trading orders at the Hanoi Stock Exchange (Photo: VNA)

Hanoi (VNA) - Vietnameseshares advanced further on January 19 as investor sentiment was cushioned byrecent strong recovery of the market and hopes for better corporateperformance in 2018.

The benchmark VN Index on the HCMStock Exchange gained 1.13 percent to close at 1,062.07 points. After the lasttwo sessions, it has almost regained a loss of 2.66 percent made on January 17.

The minor HNX Index on the Hanoi StockExchange edged up 0.41 percent to end at 122.39 points. The northern marketindex has increased total 1.6 percent in the last two days.

Both stock indices post a weeklygrowth this week with the VN Index rising 1.1 percent in total after the lastfive trading sessions. The figure for the HNX Index is 1.3 percent.

More than 417 million shares weretraded on the two local exchanges, worth 11.2 trillion VND  (498 million USD).

The trading figures were up 14.4 percentin volume and 28.2 percent in value compared to the previous session, but still15 percent and 6.3 percent lower than the record high numbers made on January12.

Market trading was quite balancedwith 258 gaining stocks, 237 declining stocks and 113 stocks closing unchanged.

Market sentiment clearly improvedafter stocks recorded strong growth in the previous session and “buyingoutweighed selling, pushing the price of many stocks,” Viet Dragon SecuritiesCompany (VDSC) said in its daily report.

Net foreign purchase was alsoanother factor that supported market sentiment, according to VDSC. Foreign investorson January 19 posted a net buy value of 835.5 billion VND, raising their totalnet investment this week to 2.7 trillion VND. -VNA

VNA
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