Shares in Ho Chi Minh City extended gains on January 17 during the session on January 20, as the VN-Index jumped 1.85 percent to a four-year high of 553.67 points.

The trading value, despite declining 14.4 percent over the previous session, remained high at 1.97 trillion VND (92.9 million USD). About 105.7 million shares changed hands.

Even among the 30 largest stocks in terms of capitalisation and liquidity tracked by the VN30 Index, only seven lost ground.

Shares of insurer Bao Viet Holdings (BVH) and Sacombank (STB) hit their daily price increase limits.

Shares of the private equity group Masan (MSN) hit the upper price limit during morning trade, but could not hold on to the gains; they finally finished the day, adding 3.7 percent. Shares of 15 other companies also posted gains.

The index added 2.5 percent to end at 620.69 points.

The market was buoyant after some companies announced upbeat financial results.

Steelmaker Hoa Phat (HPG), for instance, said it earned a 2 trillion VND (94.3 million USD) profit in 2013, 68 percent higher than the company's target. The company's shares have surged 27 percent this year.

In addition, rubber firm Casumina (CSM) announced a net profit of 360 billion VND (17 million USD), which was 42 percent higher than 2012's figure, despite a fall in product prices.

Both HPG and CSM are blue chips tracked by the VN30 Index.

A securities market website,, also reported a number of listed companies announcing high earnings per share (EPS) ratios.

Meanwhile, on the Hanoi Stock Exchange, the HNX-Index pared the gains made earlier to slide 0.4 percent to 72.50 points.

The HNX30 Index lost 0.54 percent, reaching 139.86 points.

The trading value and volume was 779.6 billion VND (36.7 million USD) and 56.9 million shares, respectively.

Foreign investors continued to be net buyers on both bourses, purchasing shares worth a net value of 365 billion VND (17.2 million USD).-VNA