Foreign purchases lift Vietnam's stocks

Stocks posted substantial gains on March 3 on the two exchanges, thanks to strong buys by foreign investors.

Investors capture auction results on their cell phones at the Ha Noi Stock Exchange. (Photo: VNS)

The foreign sector was responsible for another net buy value of VND77.3 billion (US$3.6 million) on the Hochiminh Stock Exchange. Their buys focused on blue chips, including VinGroup (VIC), Masan Group (MSN), Hoang Anh Gia Lai Co (HAG) and Phu My Fertilizer (DPM), which also helped lift prices of these shares.

On the Hanoi Stock Exchange, they also collected shares worth a net value of nearly VND30 billion (US$1.4 million).

Stable trading by the foreign sector contributed to ease local investors' psychology.

In the southern market, the VN-Index added nearly 6 points, or 1.01 percent, to close the session at 596.72 points. The VN30, which tracks the top 30 shares by market value and liquidity, gained 1.66 percent to end at 627.27 points.

Market conditions were positive, as the advancers outnumbered the decliners by 157-71 while 77 closed flat.

Liquidity also soared with both trading volume and value rising 30 percent over the previous session, totaling 113 million shares worth VND1.944 trillion (nearly US$91 million) by the end of the day.

On the Hanoi Stock Exchange, the HNX-Index edged up 0.89 percent to end at 86.24 points and the HNX30, which tracks the top 30 shares by market liquidity here, increased 1.37 percent to close at 164.67 points.

The number of gainers was higher than that of losers by 128-71. The other 162 were flat.

Trading was busy with over 44.5 million shares worth VND555 billion (US$26 million) exchanging hands, up 40 percent in both volume and value compared with the previous day's levels.

The investment arm of FLC Group, KLF Joint Venture Global Investment Co (KLF), claimed the most active position with 4.3 million shares being exchanged, going up 1 percent to close at VND10,700 each.

Source: VNA

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