Stock market extends winning streak

10-Jul-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

The benchmark VN Index of the Hochiminh Stock Exchange added 1.08 points, or 0.13%, to close at 864.5 points today, July 8, marking its fourth straight winning session.

The gains of bluechips have helped the VN Index rebound this month but the investors’ reservations after the sharp drop in June make liquidity decrease and prevent the stock market from rebounding strongly.

On the southern bourse, losing stocks outnumbered gainers by 196 to 156. Trade volume totalled 237.5 million shares worth VND4.3 trillion, falling by 28.2 percent in volume and 24.7 percent in value from the previous session. Block deals contributed VND1.26 trillion to the total value.

In the VN30 basket, 12 stocks advanced and 13 lost ground. Brewery SAB was the biggest gainer, advancing 4.27 percent to VND193,000 per share, with nearly 357,500 shares changing hands. This was SAB’s sixth straight winning session after the government announced that it will sell the entire 36 percent of State stake in the country’s biggest brewery. Since early this month, SAB stock has rocketed by 22.93%.

In contrast, hotel group DAH suffered the fifth straight losing session, closing the day at VND12,650 per share.

Steel stocks HSG and HPG took the lead on the southern bourse by liquidity with 10.43 million and 9.16 million shares traded, respectively. However, both of them lost ground, with HSG stock down 1.69 percent to VND11,600 per share and HPG falling by 1.06 percent to VND28,050 per share.

On the Hanoi Stock Exchange, the HNX-Index advanced 0.58 percent to close the day at 114.37 points, with 78 gainers and 54 losers. Trading volume fell by 24.5 percent to 25.2 million shares while value dropped 22.4 percent to VND270.5 billion against the previous session.

The growth of the HNX-Index was supported by the gain of some bluechips such as lenders ACB and NVB, construction firm VCG, stone manufacturer VCS and petroleum stock PVB.

Bank stock NVB led the northern bourse by liquidity, with 2.68 million shares changing hands, followed by electric device producer MBG with 1.79 million shares.


Category: Stocks, Vietnam

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