Hanoi (VNS/VNA) –Shares on the two stock exchanges opened this week’s trading with gains as investorsdemonstrated their rising confidence in the market outlook.

On the HCM Stock Exchange, the VN-Index edged up 0.25 percent to close onSeptember 18 at 807.87 points. The key market index rose 0.6 percent over lastweek and 21.5 percent since the beginning of this year.

On the Hanoi Stock Exchange, the HNX-Index ended up 0.62 percent at 105.13points.

The northern market index increased 0.54 percent from the previous week whilegrowing 31.2 percent compared to the end of last year.

The overall market breadth was positive with 271 stocks on the two exchangesadvancing, 182 declining and 279 remaining unchanged.

Large-cap stocks continued to lead the market upturn as 20 of the top 30largest stocks by market value and liquidity on the HCM City’s bourse gainedvalue and 10 slumped.

Stocks that made gains include industry leaders such as Vinamilk (VNM), brewerSabeco (SAB), real estate giant VinGroup (VIC), lender BIDV (BID), Vietinbank(CTG), steelmakers Hoa Phat Group (HPG) and Hoa Sen Group (HSG), IT group FPT(FPT), mobile phone retailer Mobile World Group (MWG) and private equity MasanGroup (MSN).

Rises in global oil prices also supported oil stocks, with major companies suchas PetroVietnam Drilling and Well Services (PVD), PetroVietnam Technical Services(PVS), PetroVietnam Coating (PVB) and PetroVietnam Drilling Mud (PVC) gainingbetween 1.2-6.8 percent each.

Oil prices rose for a fifth straight session last week with the West TexasIntermediate (WTI) future increasing 4.9 percent to 49.8 USD per barrel whileBrent crude closed with a 3.3 percent rise to 55.5 USD per barrel on September15.

“This bullish session sent more positive signals than in the earlier weeks withhigher capital spreading and a recovery in the market liquidity,” said Tran DucAnh, a stock analyst at Bao Viet Securities Co.

Anh said investor sentiments have improved with greater purchasing demands evenin high price zones.

A total of 254 million shares worth nearly 4.6 trillion VND (202.6 million USD)were traded in the two markets, up 35.5 percent in volume and 15 percent invalue compared to last week’s average daily trading volume and value in the twomarkets.

“It’s highly probable that the current upward trend will be maintained in theshort term, with the largest increases from the stocks with supportiveinformation and positive third-quarter results,” Anh wrote in a market reporton September 18.-VNA