Vietnamese shares recover on strong rally
Shares rebounded on October 23 after the previous session's decline,
which was just a technical correction, according to Vietcombank
Securities Co analyst Tran Minh Hoang.
Shares rebounded on October 23 after the previous session's decline,
which was just a technical correction, according to Vietcombank
Securities Co analyst Tran Minh Hoang.
"As the macro-economy remains stable and foreign investors keep buying, the market's prospects in the medium and long terms are positive," he said.
On the Ho Chi Minh City Stock Exchange, the VN-Index ended at 504.05 points, rising 0.7 percent. Trading value and volume increased around 24 percent to 1.24 trillion VND (58.4 million USD) and 82.4 million shares.
With help from blue chips, the VN30 added nearly 0.9 percent to reach 565.28 points. Among the 30 leading large-cap stocks tracked by the VN30, only Ho Chi Minh City Infrastructure Investment (CII) lost ground.
Meanwhile, insurer Bao Viet Holdings (BVH), logistics companies Gemadept (GMD) and PetroVietnam Transportation (PVT), Pha Lai Thermalpower (PPC) and Vietcombank (VCB) were the top gainers, earning 2.4-4.8 percent.
Cash was poured into large-cap shares, boosting the market during the entire session, according to analysts for the website stox.vn.
In addition, the financial performance of businesses such as Da Nang Rubber (DRC), PVT, steelmaker Hoa Phat (HPG) and PetroVietnam Low Pressure Gas Distribution (PGD) helped improve investor sentiment.
Hoang suggested investors buy these stocks to generate profit.
On the Hanoi Stock Exchange, the HNX-Index edged up 0.77 percent to 62.13 points.
The value of trades totalled 252 billion VND (11.8 million USD) as around 31 million shares changed hands. The HNX30, representing the performance of Hanoi's top 30 stocks, rallied by 1.2 percent to close at 116.35 points.
Foreign investors increased their net buying value to 149.3 billion VND (7 million USD).-VNA
"As the macro-economy remains stable and foreign investors keep buying, the market's prospects in the medium and long terms are positive," he said.
On the Ho Chi Minh City Stock Exchange, the VN-Index ended at 504.05 points, rising 0.7 percent. Trading value and volume increased around 24 percent to 1.24 trillion VND (58.4 million USD) and 82.4 million shares.
With help from blue chips, the VN30 added nearly 0.9 percent to reach 565.28 points. Among the 30 leading large-cap stocks tracked by the VN30, only Ho Chi Minh City Infrastructure Investment (CII) lost ground.
Meanwhile, insurer Bao Viet Holdings (BVH), logistics companies Gemadept (GMD) and PetroVietnam Transportation (PVT), Pha Lai Thermalpower (PPC) and Vietcombank (VCB) were the top gainers, earning 2.4-4.8 percent.
Cash was poured into large-cap shares, boosting the market during the entire session, according to analysts for the website stox.vn.
In addition, the financial performance of businesses such as Da Nang Rubber (DRC), PVT, steelmaker Hoa Phat (HPG) and PetroVietnam Low Pressure Gas Distribution (PGD) helped improve investor sentiment.
Hoang suggested investors buy these stocks to generate profit.
On the Hanoi Stock Exchange, the HNX-Index edged up 0.77 percent to 62.13 points.
The value of trades totalled 252 billion VND (11.8 million USD) as around 31 million shares changed hands. The HNX30, representing the performance of Hanoi's top 30 stocks, rallied by 1.2 percent to close at 116.35 points.
Foreign investors increased their net buying value to 149.3 billion VND (7 million USD).-VNA
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