Stocks advanced for a second straight day as investors continued to pickup blue-chips with good fundamentals amid a worldwide stock rally.
The local market sentiment improved on a long winning run on worldmarkets. Up until Sept. 11, Asian stocks had advanced for nine straightdays.
Although the Vietnamese market has little correlationwith the rest of the world, remarkable developments still have certaineffects, an FPT Securities analyst said.
The market breadth waspositive on the southern bourse. One hundred and eight advanced, 67tumbled, 83 closed unchanged, and 48 stocks were untraded.
TheVN30-Index, a free float adjusted, market cap-weighted index of 30stocks with the highest market value and liquidity on the exchange,gained 1.72 points, or 0.32 percent, to close at 531.91. Among its 30members, 15 stocks advanced, eight declined, and seven were unmoved.
Market volume was up 20 percent from a day earlier to 33.6 million shares.
Property developer, An Duong Thao Dien Co (HAR), was still the mostactive during the day with 1.79 million shares traded. It shed 4.4percent to close at 6,500 VND.
Foreign investors remained netbuyers on the HCM City bourse, purchasing 2.5 million shares.This brought the total volume of shares to nearly 2.9 million for thewhole day’s trading.
On the Hanoi Stock Exchange, the HNX-Indexalso gained as traders continued to bet on blue-chips on sustainedworldwide gains. However, trading activity was weak amid the uncleardomestic outlook.
The HNX-Index, a measure of 386 stocks, rose0.24 percent to close at 60.19 points. Earlier this week, it hit thelowest close since May 6.-VNA