Stocks gain on banking and steel stocks

VIETNAM, February 8 –

Inside a factory of the steelmaker Hoà Phát Group (HPG). HPG rose 5.8% on Tuesday. — Photo courtesy of HPG

HÀ NỘI — Vietnamese stocks rose on Tuesday, supported by market heavyweights as the strength of demand increased significantly towards the final minutes of trading, particularly in steel and banking groups.

The market benchmark VN index at the Ho Chí Minh Stock Exchange (HoSE) rose 0.22%, ending the trading day at 1,500.99 points.

The index had climbed 18.7 points, or 1.26%, ending Monday at 1,497.66 points.

The breadth of the market was negative, with 169 stocks declining while 282 rose and 52 stabilized.

Market liquidity was lower than in the previous session with nearly 735 million shares traded in the southern market, worth VNĐ22.6 trillion ($995 million).

The steel stock group attracted cash flow and rose sharply, with steel giant Hoà Phát Group (HPG) climbing 5.8%, contributing nearly 3 points to the rise in the VN index . Hoa Sen Group (HSG), Nam Kim Group (NKG), Pomina Steel Corporation (POM) and Tiến Lên Steel Group Joint Stock Company (TLH) all hit price caps.

Bank stocks also recorded positive performances, such as Orient Commercial Bank (OCB), Asia Commercial Bank (ACB), Vietinbank (CTG), Vpbank (VPB), Techcombank (TCB), HDBank (HDB) and Sacombank (STB) . But there were still some losers in the group like Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID) and Eximbank (EIB)

The securities group recorded a strong divergence. Việt Nam Bank For Industry & Trade Securities JSC (CTS), Bank for Investment & Development of Vietnam Securities Company (BSI), Bank for Investment & Development of Vietnam Securities Company (EVS), Saigon-Hanoi Securities Co (SHS), FPT Securities JSC (FTS) and Thành Công Securities Company (TCI) all won. In contrast, VNDirect Securities Inc (VND), SSI Securities Inc (SSI), APG Securities JSC (APG), VIX Securities Joint Stock Company (VIX) and Viet Dragon Securities Corporation (VDS) all declined.

The 30 largest stock tracker, VN30-Index, climbed 0.60% to end at 1,550.46 points.

On the VN30 basket, 15 stocks rose while 13 fell, while two ended flat.

Meanwhile, on the Hà Nội Stock Exchange (HNX), the HNX index gained 0.22% to close at 417.89 points.

The Northern Market Index also edged up 2.6 points, or 0.62%, to end Monday at 419.22 points.

During the session, over 59 million shares were traded on HNX, worth VND 1.6 trillion. —VNS

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