Investors watch stock movements on a laptop screen. (Photo: cafef.vn) Hanoi (VNA) - Vietnamese sharesadvanced for a second session on January 9 as investors remained upbeat overthe firms that are expected to deliver good results in the earnings season.
The benchmark VN-Index on the HCM StockExchange gained 1.04 percent to close at 1,033.56 points. It moved up 1.01 percenton the previous day.
The minor HNX Index on the Hanoi StockExchange added 0.88 percent to end at 122.14 points. The northern market indexincreased by 1.81 percent on January 8.
More than 413.4 million shares were tradedon the two local exchanges, worth 9.22 trillion VND (410 million USD).
The trading figures posted an increase of16.4 percent in volume and 12 percent in value compared to the previoussession.
Market trading condition remained positivewith 271 gaining stocks against 202 declining shares, while 123 others remainedsteady.
Large-cap stocks were the major factorboosting the stock market on January 9, according to Saigon-Hanoi SecuritiesCompany (SHS).
Leading industries also performed well todrive the market up, including financial-banking, energy, and steel andbuilding material production.
Among those sectors, the banking,insurance, energy and construction material indices had the best growth ratesof between 2.2 percent and 4.6 percent.
Top gainers in those sectors includedPetroVietnam Coating (PVB), PetroVietnam Drilling and Well Services (PVD),insurers Bảo Viet Holdings (BVH) and BIDV Insurance (BIC), Vietcombank (VCB), Saigon-HanoiBank (SHB), and steel producers Hoa Sen Group (HSG) and Hoa Phat Group (HPG).
The mentioned stocks achieved growth ratesof at least 4.1 percent. HSG and HPG hit their daily trading limit of 6.9 percenteach.
Other sectors that recorded positiveperformances included real estate, securities, rubber production, healthcareand pharmaceutical services and seafood processing.
On the opposite side, agriculture, food andbeverage and information-telecommunications-technology were among theindustries that suffered losses.
According to Viet Dragon Securities Company(VDSC), investor confidence was still good despite the public paying attentionto the trial of former high-ranking officials of State-owned energy firms andcommercial banks who are being prosecuted for causing losses to the Statebudget worth trillions of dong.
VDSC attributed good market sentiment tothe strong inflow of capital that was directed into listed companies that wouldreveal higher-than-expected earnings for the fourth quarter and the whole of2017, like steel producers, real estate firms and energy companies as theirbusinesses benefited from rising commodities prices and strong demand from thelocal market.
“A huge amount of cash is now available onthe market and investors are willing to jump in and replace one another topossess local stocks. Therefore, a strong decline seems unlikely to occur inthe coming sessions,” VDSC said. - VNA
VNA
