VN Index rallies for third day hinh anh 1An investor traces market movements at the Hoang Gia stock trading floor. (VNS Photo Truong Vi)

Hanoi (VNA) - Vietnamese shares on May 5 were mixed on the two local exchanges for a second day, while the southern market rallied for a third day.

The benchmark VN Index on the HCM Stock Exchange (HOSE) gained 0.4 percent to close at 601.51 points, rallying 1.7 percent after the last three sessions.

Local banks that are listed on the southern market helped drive the market up after foreign investment continued to flow into the sector, according to HOSE statistics.

Among those banks, Vietcombank (VCB) gained 2.2 percent, Eximbank (EIB) advanced 2.9 percent, and the Bank for Investment and Development of Vietnam (BID) rose 2.3 percent.

Vietcombank and Vietinbank also announced that their earnings in the first quarter of this year were higher than last year’s figures.

Investors also turned attention to textile and garment companies, which are expected to increase the foreign ownership in their capital and benefit from trade agreements signed between Vietnam and other countries.

In this industry, Everpia JSC (EVE), Thanh Cong Textile Garment Investment Trading JSC (TCM) and Mirae JSC (KMR) surged between 6.4 percent and 6.7 percent.

Listed companies with good performances during the first quarter of this year and good business news also helped boost the southern index.

Property developer Vingroup JSC (VIC) increased by 1 percent and Hoang Quan Consutling-Trading-Service Real Estate Corp (HQC) jumped 3.6 percent after they both recorded higher profits in the first quarter of 2016 compared to last year’s figures.

Bình Minh Plastic JSC (BMP) advanced 3.5 percent after the company announced it will make a second dividend payment of 45 percent or 4,500 VND per share for shareholders in June, totaling its dividend for last year’s performance to 60 percent or 6,000 VND per share.

Pha Lai Thermal Power JSC (PPC) spiked 6.7 percent after the Refrigeration Electrical Engineering Corp (REE) announced it will buy eight million shares of PPC to expand the its holding in PPC to nearly 25 percent.

On the opposite side, the HNX Index on the Hanoi Stock Exchange fell another 0.4 percent to finish at 80.37 points, extending a two-day loss of 0.4 percent.

Asia Commercial Bank (ACB), An Phat Plastic and Green Environment JSC (AAA), PetroVietnam Coating Corp (PVB), Sai Gon Thương Tin Real Estate JSC (SCR) and VNDirect Securities Corp (VND) were among the stocks that weighed on the northern bourse.

ACB and AAA fell 0.6 percent and 0.5 percent, respectively, PVB dropped 2.1 percent, SCR lost 1.1 percent and VND decreased by 0.8 percent.

Both local markets traded more than 172 million shares worth 3.1 trillion VND (137.7 million USD), a slight increase from the previous trading session.-VNA