Vietnam stocks rally in 3 consecutive sessions

Vietnam’s benchmark VN-Index closed Friday at 1,062 points, rising 1.03% and wrapping up the week with three successive gaining sessions after a long streak of declines.

Friday’s closing was an 11-point increase against Thursday, which saw the index up 16.2 points compared with Wednesday.

The Ho Chi Minh Stock Exchange (HoSE), represented by the index, saw Friday’s trading value up 62.7% to almost VND14.5 trillion ($599.6 million).

It had 336 gaining stickers, tripling the number of losing ones. The green covered banking and finance stocks like VCB, MBB, ACB, VIB, and BVH of Vietcombank, MB Bank, Asia Commercial Bank, and Vietnam International Bank, respectively.

The color also dominated stocks in oil and gas, securities, fertilizers, and construction. Many stickers in these groups hit their ceiling prices at a time Friday.

Foreign investors spent more than VND1,250 billion ($51.8 million) on purchases while selling shares worth VND1,040 billion (over $43 million), marking their sixth net-buying session.

HPG, SSI, and VNM of Hoa Phat Group, Saigon Securities Inc., and Vinamilk were their most-sought after stocks.