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Aviation and tourism stocks increase following China’s resumption of tours to Vietnam (Illustrative photo) |
Vietnam's stock market in the trading session on March 9 continued to increase because of the strong increase in liquidity. Foreign investors were net buyers for the third consecutive session with nearly VND195 billion on HoSE and HNX.
With the news that China added Vietnam to the list of countries approved for outbound tours, airline stocks such as Vietnam Airlines (HVN), Vietjet (VJC), the Airports Corporation of Vietnam (ACV), the Aviation Safety Technologies (AST), the Saigon Ground Services JSC (SGN) and the Sai Gon Cargo Service Corporation (SCSC) have increased and maintained their momentum until the end of today session. Moreover, shares of HVN hit the ceiling price with a buying surplus of millions of shares and VJC (Vietjet Air) increased by 3.56 percent.
Along with that, tourism stocks also hit the ceiling.
Additionally, cash was seen to flow into banking stocks, especially the blue-chip VN30 Index contributed significantly to the VN-Index's gain. Specifically, Sacombank (STB) increased by 4.54 percent, ACB hiked by 1.4 percent, Techcombank (TCB) surged by 1.83 percent, Bank for Investment and Vietnam International Commercial JS Bank (VIB) increased by 2.42 percent, Military Bank (MBB) increased by 1.14 percent.
In addition, some other blue- chips such as PetroVietnam Power (POW), Vietnam Rubber Group (GVR) and Mobile World Investment Corporation (MWG) also increased quite well. POW soared by 1.96 percent, GVR by 4.48 percent, and MWG by 1.52 percent.
Although VN-Index did not close at the highest point in the session, it also surpassed 1,055 points. At the closure of the session, VN-Index gained 6.77 points (0.65 percent) to 1,055.95 points with 271 gainers, 118 losers and 102 unchanged stocks.
Elsewhere in Hanoi, HNX-Index also gained 0.35 points (0.17 percent) to stand at 209.03 points with 95 gainers, 64 losers and 183 unchanged. Market liquidity improved significantly compared to the previous session with less than VND10,000 billion and the total trading value on the two official exchanges reached nearly VND11,600 billion.
