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Blue chip stocks lead national gains

GBS - Shares continued their upward trend on both stock exchanges on May 28 as blue chip rallies propped up the markets.

On the Hochiminh Stock Exchange, the VN-Index closed 0.83 percent higher at 557.34 points, though gainers narrowly outnumbered the losers by 103-98. There were 100 shares that closed flat.

Blue chips were the main movers with 21 of the top 30 shares by market value and liquidity rising, lifting the VN30 up 1.49 percent to end at 614.88 points.

Biggest gainers included Sacombank (STB) with a rise of 6.4 percent; steelmaker Hoa Sen Group (HSG), up 2.9 percent; Masan Group (MSN), up 2.7 percent; and PV Gas (GAS), up 1.1 percent.

Overall trading was sluggish, however, as the market volume decreased 15 percent, totaling more than 108 million shares, worth 1.55 trillion VND (73.5 million USD), down 10 percent from the previous session's value.

Money poured into the top 30 shares which accounted for more than 50 percent of total market value, reaching 790 billion VND (37.4 million USD).

Real estate FLC Group (FLC) remained the most active code with 13.8 million shares, climbing 1 percent to close at 11,200 VND a share.

On the Hanoi Stock Exchange, the HNX-Index also added 0.43 percent to end at 77.18 points, extending the rising streak to four days in a row.

Large-cap stocks on the northern bourse also gained as the HNX30 grew 0.73 percent to stand at 156.21 points.

Both market volume and value declined 20 percent from May 27, totaling 70.3 million, worth more than 673 billion VND (31.9 million USD).

PetroVietnam Construction Corp (PVX) was the most active with trades of nearly 10 million shares, dipping 1.85 percent to close at 5,300 VND a share.

Foreign investors continued to collect local shares as they again concluded as net buyers on both exchanges on May 28, picking up shares worth a combined 36.25 billion VND (1.7 million USD).

-VNA

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