Shares extend gains on optimism

The stock market opened today's trading on a positive note with shares on both exchanges climbing on investors' optimism.

The VN-Index on the HCM City Stock Exchange surpassed the psychological resistance landmark of 505 points, closing this morning's session up 0.62 per cent at 505.70 points.

Trading was busier towards the end of the morning with a total of nearly 34.2 million shares, worth VND616.4 billion (US$ 29.4 million), changing hands.

Blue chips continued to support the market when many of the top 30 shares by market capitalisation and liquidity like Bao Viet Holdings (BVH), Vinamilk (VNM), FPT Corp (FPT), Military Bank (MBB) and Vietcombank (VCB) posted gains, pushing the VN30 up 0.61 per cent to 573.66 points.

Property developer Tan Tao Investment Industry (ITA) temporarily leads the southern market's trades with more than 2.5 million shares exchanged, but the shares lost over 1.4 per cent to be traded at VND7,000 a share.

On the Ha Noi Stock Exchange, the HNX-Index also closed up 0.13 per cent at 61.08 points on the trading value of VND234.4 billion ($ 11.2 million) by the end of the morning.

Trading in shares Sai Gon-Ha Noi Bank (SHB) continued to dominate the market with over 13.2 million shares changing hands, becoming the most active code on the northern bourse. SHB rose 4.35 per cent to VND7,200 a share. Afternoon trading will resume at 1pm.