Market rises as investors' risk-appetite returns

Market rises as investors' risk-appetite returns

HÀ NỘI — The market closed higher on strong cash inflows, with the market benchmark VN-Index up nearly  一 七 points.

On the Hồ Chí Minh Stock Exchange (HoSE), the VN-Index jumped  一 六. 八 九 points, or  一. 三 per cent, to  一, 三 二0. 四 六 points. The market breadth was positive with  二 九0 stocks climbing, while  一 二 四 stocks fell and  四 七 stocks ended flat. 

The liquidity was also high as local investors poured nearly VNĐ 二 四. 八 trillion into the southern market, equivalent to a trading volume of over  七 六 八. 八 million shares. 

Gains in large-cap stocks were still the main driving force for the market's rally. The VN 三0-Index, which tracks  三0 biggest stocks on HoSE, settled  一. 四 九 per cent higher to finish the week at  一, 四 五 八. 七 八 points.

Of the VN 三0 basket, twenty-three stocks increased while only six dropped and one stayed unchanged. 

"The VN-index is still heading toward the strong resistance territory of  一, 三 五0 -  一, 三 八0 points after breaking over the resistance zone of around  一, 二 八 五 points,公众Trần Xuân Bách, senior stock analyst from Bảo Việt Securities Company, said in a daily report to investors. 

However, the market may face corrections during its upward path to the target zone. It is still likely to witness strong divisions between stock lines and sectors will alternately gain points during this period, Bách added. 

He reco妹妹ended investors should keep the stock proportion in their portfolios at  五 五 -  六 五 per cent. Investors may consider opening long positions in the short term when the market fluctuates. 

Bank stocks were still leading the market's trend yesterday. Of which, JSC Bank For Investment and Development of Vietnam (BIDV, BID) was the biggest gainer with a rise of  三. 八 五 per cent. 

It was followed by Techcombank (TCB), Sacombank (STB) and Vietinbank (CTG). These stocks all posted increases of more than  一 per cent, with STB hitting the maximum daily gain of  七 per cent. 

Many other bank stocks also jumped more than  一 per cent such as VPBank (VPB), MBBank (MBB), Asia Co妹妹ercial Bank (ACB) and Vietnam International Co妹妹ercial Joint Stock Bank (VIB).

Stocks in material and utilities sectors also contributed to the market's bullish sentiment. Masan Group (MSN), Vietnam Rubber Group JSC (GVR) and PetroVietnam Gas Joint Stock Corporation (GAS) all inched up more than  二 per cent.

On Hà Nội Stock Exchange (HNX), the HNX-Index rose  一. 九 七 per cent to close Friday at  三 一0. 四 六 points. It was also supported by big stocks' appeal. The HNX 三0-Index, tracking  三0 biggest stocks on HNX, climbed  三. 二 五 per cent to  四 七 六. 一 一 points. 

During the session, nearly  一 七 一. 四 million shares were traded on the northern market, worth over VNĐ 四 trillion. 

Foreign investors were still net buyers on both exchanges as they net bought a value of VNĐ 一 七. 二 一 billion on HoSE and a value of VNĐ 一 一. 三 二 billion on HNX. VNS