VN Index up for a fourth day

Vietnamese shares were mixed on June 30 while investors became more confident in property companies on expectations of higher second-quarter performances.

The benchmark VN Index on the HCM Stock Exchange climbed 0.3 percent to finish at 632.26 points, extending its rally of 1.9 percent for a fourth day.

The HNX Index on the Hanoi Stock Exchange closed down slightly at 84.72 points, ending a two-day gain of 1.4 percent.

Investors at MB Securities Company. Photo: VNS

Property firms and medical services providers were the stocks that recorded highest growth on June 30.

Investor confidence in real estate companies was bolstered after CBRE Vietnam, a branch of the US-based real estate service and investment firm, said in its second-quarter reviews for Hanoi and HCM City markets that both biggest markets in the country are performing well with higher sales compared to the first quarter of the year.

The reviews, released on June 28 and 29 respectively for the two largest cities, indicate that about 4,860 apartments were sold between April and June, a quarterly increase of 20 percent. This has brought total apartment sales in the first half of the year to 8,900 units.

Among listed real estate firms that made good gains, Vingroup JSC (VIC) rose 2.9 percent, Saigon Thuong Tin Real Estate JSC (SCR) gained 2.1 percent, and An Duong Thao Dien Real Estate Trading Investment JSC (HAR) went up 1.9 percent.

Medical equipment and service providers continued their rallies. Traphaco JSC (TRA) added 1.8 percent to climb 2.7 percent in the last two sessions, and DHG Pharmaceutical JSC (DHG) jumped 4.6 percent to surge 13.8 percent in the last three trading days.

On the opposite side, energy stocks prevented markets from going higher as crude prices retreated from a two-day gain. London-traded Brent crude fell 0.9 percent to trade at USD 50.17 a barrel after jumping 7.3 percent in the previous two trading days.

Among listed energy firms, PetroVietnam Drilling and Well Service Corp (PVD) and PetroVietnam Coating Corp (PVB) lost 1 percent each, and PetroVietnam Technical Service Corp (PVS) edged down 0.5 percent.

Vietnam’s central bank on June 30 reduced its daily reference mid-point rate by VND 9 to VND 21,873 for a US dollar. Local banks were able to trade the Vietnamese dong and the dollar within a trading band of 3 percent on either side of the mid-point rate.

Investors on both local exchanges traded more than 167 million shares worth nearly VND 3 trillion (USD 132.9 million).