Stock rallies extend for fourth straight day

07-Jun-2018 Intellasia | | 8:12 AM Print This Post

Despite a selloff in early trading, the stock market rallied for the fourth consecutive session today, driving up the VN Index of the Hochiminh Stock Exchange by 8.96 points, or 0.88 percent, versus Monday at 1,022.74.

Trading on the HCM City exchange improved strongly, mostly thanks to VND2.9 trillion worth of shares traded in block deals. Ending the day, trading volume and value jumped 28 percent and 53.5 percent at 212.4 million shares and VND7.8 trillion.

Many stocks shot up to their ceiling prices. Steel maker HSG, construction firm ASM and seafood producer IDI took the lead by liquidity with 7.3 million, 6.6 million and six million shares changing hands respectively. VJC, a low-cost carrier, failed to hit the upper limit for the third straight session but still gained 1.6 percent at VND173,000 per share.

Among large caps, leading gas firm GAS went up to the ceiling price of VND98,700 per share. Meanwhile, property giant VIC and its affiliate VHM advanced a slight 0.9 percent, closing at VND121,100 and VND118,000 a share respectively.

Notably, lender TCB tumbled 6.2 percent at VND96,000 per share after it plunged to its floor price on Monday when it made bourse debut. In the banking sector, TCB ranked second for market capitalisation after VCB.

EIB was the best performer for adding 3.7 percent at VND15,450 a share, followed by STB that increased 2.8 percent at VND12,900 per share. Meanwhile, MBB closed at the reference price of VND30,450 per share and TPB lost 0.3 percent at VND29,400 a share.

Despite the crude oil price fall, triggered by soaring output in the US, local oil and gas firms made significant gains. Aside from GAS and PVD which hit the ceiling prices, PLX, PVT and DPM advanced from 2.8 percent to 4.4 percent each.

The HNX-Index retreated after a three-day winning streak, dipping 0.11 percent at 118.18. There were 64.7 million shares worth nearly VND960 billion transacted on the Hanoi market, up 16.3 percent and 17.6 percent respectively.

Oil and gas stocks PXV, PVS and PVB were index savers, in which PVX hit the upper limit of VND1,600 per share and PVS added 3.4 percent at VND18,200 a share on volume of 5.8 million shares.

In contrast, lender ACB fell 0.7 percent at VND41,700 per share with matching volume of nearly 4.7 million shares. Its fellow bank SHB closed at the reference price of VND9,600 a share with 6.9 million shares traded.

KLF, a trading and food service firm, became the volume leader with 8.4 million shares traded, hitting its upper limit of VND2,200 a share.


Category: Stocks, Vietnam

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