Shares surge on rising investor optimism

April 27, 2017 | 14:57

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Shares traded higher on Thursday morning as rising investor optimism put the market back on track.

Shares traded higher on Thursday morning as rising investor optimism put the market back on track.

The benchmark on the HCM Stock Exchange edged up 0.54 per cent to 713.88 points.

On the smaller Ha Noi Stock Exchange, the HNX-Index was up 0.65 per cent to 89.13 points.

Sixteen of the 20 stock groups gained value in morning trade, of which the mining and healthcare service sectors were the most significant leaders, with average growth of 2.1 per cent and 1.9 per cent, respectively. Construction and real estate groups followed, with each rising some 1.3 per cent on average.

Among the 30 largest stocks by market value and liquidity on the HCM Stock Exchange, only four declined while 23 advanced, including leading industry stocks such as Vinamilk (VNM), VinGroup (VIC), Vietcombank (VCB) and Vietinbank (CTG), as well as PV Gas (GAS), insurer Bao Viet Holdings (BVH) and IT firm FPT (FPT).

Almost 125 million shares worth a combined VND2.3 trillion (US$101.3 million) were traded on the two markets this morning.

The VN-Index has stepped back from the nine-year high of 731.33 on April 11 and analysts are speculating the market will soon rebound on investors’ bargain hunting.

VNS

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