The VN-Index saw its second day of strong growth, climbing 1.77 percent on July 3 to close the session at 616.43 points.
However,the rally was again driven mainly by blue chips, particularly bankstocks, while most speculative shares had modest gains or went flat.
"Blue-chips became hot stocks after the foreignownership limit in some listed companies was lifted," analysts at FPTSecurities wrote on the company's website.
Onthe Hochiminh Stock Exchange, the VN30, which tracks the top 30 sharesby market value and liquidity, also rose over 1 percent to end at 639.87points.
Bank shares continued to lead the tradewith more than 2 to 10 million shares changing hands in leading lenderslike Military Bank (MBB), Vietinbank (CTG) and Bank for Investment andDevelopment of Vietnam (BIDV).
Other members ofthe VN30 including VinGroup (VIC), Bao Viet Holdings (BVH), Masan Group(MSN), PetroVietnam Drilling and Wells Service (PVD) and Hoa Phat Group(HPG) also increased substantially.
The brightprospects of the market attracted big flows yesterday. Both marketvolume and value jumped another 20 percent over the previous session,totaling 164.5 million shares worth 2.67 trillion VND (122.5 millionUSD).
Property developer FLC Group (FLC)maintained the hottest stock with nearly 16 million shares changinghands, but its price stayed flat at 8,600 VND a share.
On the Hanoi Stock Exchange, the HNX-Index also gained 1.08 percent to finish at 87.70 points on growing investor confidence.
Bankstocks like Asia Commercial Bank (ACB) and Sai Gon-Hanoi Bank (SHB)continued to prop up the market, with the latter the most active stockon trades of 6 million shares. SHB's price grew 2.4 percent to settle at8,600 VND each.
Overall liquidity improved asthe trading volume soared 30 percent over the previous day to reachnearly 58 million shares while the market value climbed 25 percent to710.2 billion VND (32.6 million USD).
Many stockanalysts showed their doubts on the current rally. First-half macroeconomic data, the prospects of the Trans Pacific Partnership (TPP) andeven the raising of the foreign ownership ceiling would play asupporting role in the medium- and long-term.
The foreign sectors lifted their buys in the two markets yesterday,picking combined shares worth 206 billion VND (9.5 million USD).-VNA
However,the rally was again driven mainly by blue chips, particularly bankstocks, while most speculative shares had modest gains or went flat.
"Blue-chips became hot stocks after the foreignownership limit in some listed companies was lifted," analysts at FPTSecurities wrote on the company's website.
Onthe Hochiminh Stock Exchange, the VN30, which tracks the top 30 sharesby market value and liquidity, also rose over 1 percent to end at 639.87points.
Bank shares continued to lead the tradewith more than 2 to 10 million shares changing hands in leading lenderslike Military Bank (MBB), Vietinbank (CTG) and Bank for Investment andDevelopment of Vietnam (BIDV).
Other members ofthe VN30 including VinGroup (VIC), Bao Viet Holdings (BVH), Masan Group(MSN), PetroVietnam Drilling and Wells Service (PVD) and Hoa Phat Group(HPG) also increased substantially.
The brightprospects of the market attracted big flows yesterday. Both marketvolume and value jumped another 20 percent over the previous session,totaling 164.5 million shares worth 2.67 trillion VND (122.5 millionUSD).
Property developer FLC Group (FLC)maintained the hottest stock with nearly 16 million shares changinghands, but its price stayed flat at 8,600 VND a share.
On the Hanoi Stock Exchange, the HNX-Index also gained 1.08 percent to finish at 87.70 points on growing investor confidence.
Bankstocks like Asia Commercial Bank (ACB) and Sai Gon-Hanoi Bank (SHB)continued to prop up the market, with the latter the most active stockon trades of 6 million shares. SHB's price grew 2.4 percent to settle at8,600 VND each.
Overall liquidity improved asthe trading volume soared 30 percent over the previous day to reachnearly 58 million shares while the market value climbed 25 percent to710.2 billion VND (32.6 million USD).
Many stockanalysts showed their doubts on the current rally. First-half macroeconomic data, the prospects of the Trans Pacific Partnership (TPP) andeven the raising of the foreign ownership ceiling would play asupporting role in the medium- and long-term.
The foreign sectors lifted their buys in the two markets yesterday,picking combined shares worth 206 billion VND (9.5 million USD).-VNA
