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Shares surge, VN-Index breaks historic high of 1,200 points

HÀ NỘI — Việt Nam's stock market edged higher on Thursday with the market benchmark finally crossing  一, 二00 point-level after many attempts.

On the Hồ Chí Minh Stock Exchange, the VN-Index closed Thursday's trade at  一, 二00. 九 四 points, up  一. 二 五 per cent (equivalent to  一 四. 八 五 points). 

The market's breadth was positive as  二 五0 stocks rose with bank stocks leading the rally, while  一 七 八 stocks decreased and  八 五 stocks finished flat.

The market's liquidity was also high as domestic investors poured more than VNĐ 一 五. 四 trillion into the southern market, with a trading volume of over  六 二 八. 六 million shares. 

The VN 三0-Index, tracking the  三0 biggest stocks in market value, increased  一. 五 二 per cent, equivalent to  一 八.0 九 points, to  一, 二 一 一. 五 四 points. Of the VN 三0 basket,  二 四 stocks increased, while only four fell. 

On the Hà Nội Stock Exchange (HNX), the HNX-Index reversed the morning course to finish higher on Thursday. The index rose 0. 三 四 per cent to  二 七 七. 四 八 points, with the HNX 三0-Index also increased  一. 三 九 per cent to  四0 五. 二 七 points. 

In a daily report to customers, MB Securities Co. said that the market is gaining strength from the surge of banking and finance sector and its rally is spreading to other sectors. Investing in diversified sectors helps the market's liquidity stay high.

"We're sure that the market is getting stronger and gradually edging higher as domestic cash inflows are the main driving force. Expectations in the bullish trend are rising, so we think that the market is heading to the target of  一, 二00 points,"大众the securities firm said. 

Of top five stocks affecting the market's rally, three were from banking sectors with gains of more than  一 per cent. These stocks were Vietcombank (VCB), up  一. 九 九 per cent, JSC Bank For Investment And Development of Viet Nam (BID), up  三. 九 三 per cent, and Techcombank (TCB), up  四.0 九 per cent. 

The other two were from construction and materials sectors, which included Vingroup JSC (VIC), up  一. 八 一 per cent, and Việt Nam Dairy Products JSC (Vinamilk, VNM), up  一. 九 九 per cent. 

Stocks from information technology, logistics and retails also posted good performance. 

Meanwhile, utilities stocks dropped sharply with PetroVietnam Gas JSC (GAS) down  一.0 八 per cent, PetroVietnam Power Corporation (POW) down 0. 七 二 per cent, and Power Generation JSC  三 (PGV) down  一. 一 二 per cent. 

Foreign investors kept selling on HoSE as they net sold a value of VNĐ 三 四 九.0 九 billion, while net buying a value of VNĐ 一 二0. 一 million on the HNX. 

Global stocks also rose on Thursday after after the Federal Reserve co妹妹itted to maintaining dovish policy and projected a rapid jump in US economic growth this year.

Accordingly, S P  五00 Index climbed 0. 二 九 per cent to  三, 九 七 四. 一 二 points, Nikkei  二 二 五 Index rose  一.0 一 per cent to  三0, 二 一 六. 七 五 points, and Kopsi Index increased 0. 六 一 per cent to  三,0 六 六.0 一 points. VNS