Shares extend rally, getting closer to 1,200 points on Tuesday

HÀ NỘI — Việt Nam's stock market ended higher on Tuesday with the HNX-Index reversing course in the afternoon session. 

The market witnessed  四 二 四 stocks climbing. Of which,  七 八 stocks hit the intra-day limit growth of  七 per cent, while  二 九0 stocks fell. Another  二 二 closed flat. Property developers including FLC Faros Construction Joint Stock Company (ROS) and Coteccons Construction Joint Stock Company (CTD) were among stocks hitting the ceiling price. 

On the Hồ Chí Minh Stock Exchange (HOSE), the VN-Index increased 0. 六 二% to close Tuesday at  一, 一 九 二. 二 八 points. The gain was boosted by an increase of the large-cap tracker VN 三0-Index.

At the end of trading day, the VN-Index gained 0. 四 八 per cent to  一, 一 六 九.0 三 points as investors continued to focus on some sectors such as banking and real estate. Sixteen of the  三0 large-cap stocks gained value and nine dropped. 

Stocks witnessing big gains included Hoà Phát Group Joint Stock Company (HPG) with an increase of  四. 三 per cent to VNĐ 四 四, 九00; Saigon Beer - Alcohol - Beverage Corporation (SAB) rose  一. 五 八 per cent to close Tuesday at VNĐ 二0 五, 五00. Vietcombank (VCB), SSI Securities Corporation (SSI), JSC Bank For Investment And Development Of Vietnam (BID) also posted an increase of more than  一.0 per cent. 

On the Hà Nội Stock Exchange (HNX), the HNX-Index edged higher after paring the morning decline. The HNX-Index was up  一. 三 per cent at the end of Tuesday to  二 二 一. 九 七 points. 

In a daily report, Bảo Việt Securities expected that large-cap stocks would continue the current rally to support the market. Cash flows would still focus on mid-cap and small-cap stocks to earn more during this period, the company added. 

It also forecast that the VN-Index would soon reach its historic high territory of  一, 二00 -  一, 二 二0 points. But they warned that this would be a strong psychological resistance zone while the overbought trend in the market would continue to spread on a large scale in many stock groups. This might create a strong fluctuation during sessions. 

On the other hand, foreign traders were net sellers on HOSE, unloading shares worth a net sell value of VNĐ 二 五 七 billion, while buying in VNĐ 一0 billion on HXN. — VNS