Cash flow soars, VN Index gains 2.7pct

05-Dec-2018 Intellasia | The Saigon Times | 6:10 AM Print This Post

The local stock market started the month on a positive note today, December 3, as strong cash flow sent the VN Index of the Hochiminh Stock Exchange surging a massive 25.05 points, or 2.7 percent, against last Friday to close at 951.59.

The southern stock market saw up to 224 stocks rising, three times higher than the number of losers. Turnover on the exchange improved with volume and value surged 32.3 percent and 19.5 percent versus the previous session at 209.8 million shares worth VND4.8 trillion.

The put-through market became active with large block deals valued at nearly VND1.4 trillion. Notably, construction firm ROS saw around 6.4 million shares traded with a total value of VND239.9 billion while 24 million shares of lender TCB worth VND582 billion were transacted.

For the VN30 basket, sugar firm SBT was the only decliner as it dropped a slight 0.5 percent at VND21,000. Banks again turned market drivers with nine stocks in the sector gaining or closing near their ceiling prices.

BID lost ground in the morning phase due to the arrest of its former chair Tran Bac Ha last week. However, the bank recovered sharply thanks to strong demand from both foreign and domestic investors, closing at its upper limit of VND33,550.

STB and MBB were the most actively traded stocks with more than 10 million shares changing hands each. CTG ranked next with 6.8 million shares traded while other banks reported matching volume from one to three million shares.

Oil and gas stocks performed well, in which gas group GAS going up to the near the upper limit of VND61,000 on matching volume of nearly one million shares. PLX, a leading fuel retailer, edged up 5.2 percent at VND61,000 while oil drilling firm PVD added 6 percent at VND16,800.

On the Hanoi Stock Exchange, the HNX-Index soared for the fourth straight session, advancing 2.69 percent versus last Friday at 107.64. Ending the day, there were 44 million shares worth VND677.4 billion changing hands, up 47 percent and 61.3 percent, respectively.

Among bank stocks, SHB took the lead by liquidity with 7.4 million shares traded, climbing 2.7 percent at VND7,700. It fellow bank ACB also gained 5 percent at VND31,300 on matching volume of nearly 4.7 million shares.

PVS, a technical petroleum service enterprise, still added 4.7 percent at VND20,200 despite strong foreign selling. The firm was the volume leader on the northern market with nearly 8.7 million shares traded.


Category: Stocks, Vietnam

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