Investors at the trading floor of ACB Securities Company.
(Source: VNA)
 
Hanoi (VNA) - The VN Index on the HCM Stock Exchange rallied for a fifth session on February 2 as investor confidence was bolstered by positive earnings reports from listed companies.

The benchmark index advanced 0.9 percent to close the first trading day of the new lunar year at a new nine-year high of 703.18 points. It has rallied a total of 3 percent after the last five sessions.

Market trading liquidity fell from the previous session with more than 86.4 million shares being traded, worth 2.06 trillion VND (91.84 million USD). The figures were 12 percent and 1.6 percent lower in trading volume and value, respectively.

The southern market was lifted after listed companies such as private equity firm Masan Group (MSN), Eximbank (EIB), Bank for Investment and Development of Vietnam (BID) and HCM City Infrastructure Investment JSC (CII) announced their 2016 profits.

MSN gained 2.3 percent after Masan reported that its revenue for 2016 increased 41 percent year on year to nearly 43.3 trillion VND and net profit rose 44 percent from 2015 to 4.54 trillion VND.

EIB surged 7 percent after the bank recorded a net profit of 308.9 billion VND for 2016, which was nearly eight times that of 2015, thanks to 150 billion VND profit made in the fourth quarter last year.

CII added 2 percent after the southern infrastructure developer released its 2016 financial report. Last year, the company recorded a post-tax profit of 1 trillion VND, which increased 28 percent over the previous year and exceeded last year’s target by 20 percent.

Other blue chips also made gains to support the market. PetroVietnam Gas edged up 0.7 percent as oil prices remained positive on global trading.

Brent crude rose 0.8 percent to trade at 57.25 USD a barrel, lifting its gain to a third day with total growth of 3.6 percent.

On the Hanoi Stock Exchange, the HNX Index inched up 0.2 percent to finish at 84.64 points. The northern market index has increased by total 2 percent in the last three days.

More than 16.6 million shares were traded on the northern bourse, worth 172.25 billion VND. The trading figures fell 39 percent and 35 percent, respectively, compared to the previous session.-VNA