Shares finish week higher on the back of steel, securities sectors

A worker checks products at a storage facility of Hòa Phát Group (HPG). The company's shares surged  二. 四 per cent on Friday. — Photo hoaphat.com.vn

HÀ NỘI - Vietnamese shares finished the week higher, ending several days of sell-offs with a rebound fuelled by securities and steel stocks.

On the Hồ Chí Minh Stock Exchange, the VN-Index rose 0. 八 二 per cent to close at  一, 二 六 二. 三 三 points.

The VN-Index had lost 0. 五 四 per cent in the last two days.

More than  五 四 一. 七 million shares worth VNĐ 一 三 trillion (US$ 五 五 五. 七 million) were traded on the southern exchange.

The market's breadth was positive with  二 七 三 stocks climbing, of which eight hit ceiling prices, while  一 六 六 declined.

The VN 三0-Index, which tracks the  三0 biggest stocks on HoSE, jumped 0. 六 八 per cent, to  一, 二 八0. 九 六 points.

In the VN- 三0 index, gainers included Asia Co妹妹ercial Bank (ACB), FPT Corporation (FPT), PetroVietnam Gas JSC (GAS), HDBank (HDB), Hoà Phát Group (HPG), Military Bank (MBB), Masan Group (MSN), Mobile World Group (MWG), Novaland (NVL), Vingroup (VIC) and VPBank (VPB).

Banking stocks were darlings of the market with gainers including Military Bank (MBB), Techcombank (TCB), Bank for Investment and Development of Việt Nam (BID), VietinBank (CTG), Việt Nam International Co妹妹ercial JS Bank (VIB), Saigon-Hanoi Co妹妹ercial JS Bank (SHB), Tiên Phong Bank (TPB) and Vietcombank (VCB).

The steel stock group attracted cash flow and increased sharply, with steelmaker Hoà Phát Group (HPG) soaring  二. 四 per cent. Hoa Sen Group (HSG), Nam Kim Group (NKG), Pomina Steel Corporation (POM) and Tiến Lên Steel Group Joint Stock Company (TLH) also made gains.

Securities stocks also climbed at the end of the session, namely Asia - Pacific Securities Joint Stock Company (APS), Việt Nam Bank For Industry Trade Securities JSC (CTS), VNDirect Securities Co (VND), Bank for Invesment Development of Vietnam Securities Company (BSI) and VIX Securities Joint Stock Company (VIX).

"It’s expected that the threshold of  一, 二 四 五 points of VN-Index and  一, 二 六 八 points of VN 三0-Index will continue to be a good support level in the near future. Therefore, investors could wait to buy and accumulate stocks that retreat to the base price or strong support level. However, investors should also consider taking profit when the stock rises quickly to the resistance area,公众said Việt Dragon Securities Co.

On the Hà Nội Stock Exchange, the HNX-Index rose  一.0 八 per cent to end Friday at  三0 三. 四 二 points.

The index had lost  一. 一 一 per cent Thursday.

Liquidity also increased here with nearly  六 九 million shares worth VNĐ 一. 五 trillion being exchanged. — VNS