Vietnam shares rise for a second day hinh anh 1Investors watch share prices move at ACB Securities Company. (Photo: VNA/VNS)

Hanoi (VNA) - Vietnamese shares rose for a second session on July 26 on both local exchanges with investors picking up stocks on expectations of future market prospects.

The benchmark VN-Index on the HCM Stock Exchange gained 0.86 percent to close at 773.88 points.

The HNX-Index on the Hanoi Stock Exchange increased 1.65 percent to end at 99.43 points.

The two indices advanced nearly 1 percent each on July 25.

Market trading liquidity improved with more than 281.4 million shares being traded on both local exchanges, worth 4.45 trillion VND (197.8 million USD).

July 26’s trading figures were 20 percent higher in trading volume and 7.1 percent lower in trading value compared to July 25. However, July 25’s trading value remained higher than the average trading value of the previous five sessions.
The stock market was boosted by shares of property developers, financial-banking firms and energy companies.

Financial-banking and property stocks remained among the most attractive assets on expectations that they would release higher earnings reports for the second quarter and the first six months of the year.

In the banking sector, MBBank (MBB) ended flat, while eight other bank stocks made gains with Vietinbank (CTG), Eximbank (EIB), Sacombank (STB), Saigon-Hanoi Bank (SHB) and Asia Commercial Bank (ACB) rising at least 1.3 percent.

Other financial stocks such as brokerages and insurance firms also moved forward. Those gainers included insurance-finance group Bao Viet Holdings (BVH), Saigon-Hanoi Securities (SHS), MB Securities (MBS) and Vietinbank Securities (CTS).

The property sector was lifted by Dat Xanh Real Estate Service and Construction Corp (DXG), Sacomreal JSC (SCR) and FLC Group (FLC).

Dat Xanh Real Estate Co has reported its post-tax profit after the first six months rose 64 percent year on year to 270 billion VND.

Shares of energy firms such as PetroVietnam Gas (GAS), PetroVietnam Drilling and Well Services (PVD) and PetroVietnam Technical Services (PVS) benefited from a three-day rally in oil prices. Brent crude advanced 0.5 percent to trade at 50.48 USD a barrel. It had gained total 4.4 percent in the previous three sessions.

The benchmark VN-Index has returned to its short-term upward trend with market liquidity being improved from the previous sessions, Tran Xuan Bach, an analyst at Bao Viet Securities Co, said in a note.

“There are signs that market trading volume is increasing and the market condition is positive, proving that investor sentiment is getting better as they bet on the market’s rising prospects,” he said.

However, Bach warned that profit-taking pressure may arise during July 27’s session as the VN-Index had bounced back strongly in the last two days and the test for it would be the 775-point level.-VNA