Bluechips help VN Index rebound but liquidity evaporates

01-Aug-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

The strong growth of bluechips helped the local stock market rebound today, July 30 after a fall yesterday but liquidity dropped drastically as investors grew cautious.

With winning stocks outnumbering losers by 256 to 104, the benchmark VN Index on the Hochiminh Stock Exchange advanced by 1.3%, or 10.29 points, against the session earlier to close the day at 801.13 points.

Both trading volume and value on the southern market suffered a deep fall, dropping by 48 percent and 41 percent against the previous session, respectively, to 188.9 million shares worth VND3.2 trillion.

Many bluechips gained ground, such as housing developer VHM rising 3.5 percent to VND76,600, gas stock GAS up 3.2 percent to VND65,500, dairy producer VNM up 2.8 percent to VND109,000 and lender TCB up 2.5 percent to VND18,600 per share. Mobile phone retailer MWG, construction firm CTD, steelmaker HPG and lender VPB increased by approximately 1.5%.

A few big-cap stocks lost ground, including lender VCB down 0.1 percent to VND77,400, brewery SAB down 0.5 percent to VND170,100 and lender EIB falling by 3.1 percent to VND17,100 per share.

Steelmaker HPG was the most actively traded stock on the southern market with 11.5 million shares changing hands, followed by real estate stock HQC with 9.93 million shares and industrial zone developer ITA with 7 million shares.

Among speculative stocks, real estate stock HQC, industrial zone developer ITA, construction firm ROS and property developer FLC settled the day in the red, while steelmaker HSG, construction firm ASM, real estate group DBC and petroleum stock PVD advanced. ASM was the biggest gainer, jumping by 4.6 percent with 3.77 million shares traded at VND4,750 each.

On the Hanoi Stock Exchange, the HNX-Index increased by 1.17%, or 1.25 points, to end at 108.1 points, with winning stocks outnumbering losers by 76 to 24. There were 29 million shares worth nearly VND275 billion traded.

Among the big-cap stocks, lender ACB edged up 1.8 percent to VND22,600, lender NVB up 1.2 percent to VND8,700 and plastic company DNP up 1.7 percent to VND18,300 per share.

In contrast, securities company SHS lost 1 percent to end at VND10,100, while property group CEO down 1.5 percent to VND6,800 and manufacturer TAR down 1.7 percent to VND17,600 per share.

Property firm HUT took the lead by liquidity with over 3.4 million shares traded.


Category: Stocks, Vietnam

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