Stocks jump but trade remains low

09-Jan-2019 Intellasia | The Saigon Times | 6:00 AM Print This Post

With most large caps making sharp gains, the local stock market advanced for the second straight session today, January 7, but revenue contracted further due to sluggish transaction.

Having soared over 15 points in the morning, the VN Index of the Hochiminh Stock Exchange dropped back and closed the day up 8.74 points, or 0.99 percent, at 889.64. Trading volume and value on the southern market fell 6.4 percent and 9.4 percent against the session earlier at 127.5 million shares worth VND2.6 trillion, respectively, in which there were 40.1 million shares worth VND842.5 billion traded in block deals.

Most bank stocks narrowed down their morning gains but they still saw active transaction. VCB jumped around 3 percent before ending up a slight 0.4 percent at VND54,600. Meanwhile, CTG erased all of its early gain and fell 1.1 percent at VND18,150.

MBB again led the market for liquidity with matching volume of 4.1 million shares, adding nearly 1.9 percent at VND18,950, followed by CTG with 3.9 million shares and STB with 3.7 million shares.

Having slumped for three sessions in a row, construction stock ROS moved flat at VND36,000. VNM, a dairy stock, turned the top advancer on the southern bourse as it surged 4.8 percent to the intraday high of VND131,000.

Other large caps performed strongly, in which leading gas group GAS added 2.1 percent at VND86,300. MSN, a consumer goods firm, increased 2.6 percent at VND78,200.

Among speculative stocks, seafood exporter ASM went up to the ceiling price of VND7,270 after plunging to the floor trading in two sessions last week. The firm reported matching volume of over 3.4 million shares.

The HNX-Index of the Hanoi Stock Exchange outperformed the VN Index for adding 1.08 points, or 1.07 percent, against last Friday at 101.93.

Market turnover improved strongly thanks to large block deals valued at VND788 billion, with volume and value expanding 23.3 percent and 21 percent at 54.6 million shares worth VND1 trillion. For the put-through market, lender ACB saw up to over 30 million shares exchanged with the total value of VND767 billion.

ACB increased 1.4 percent at VND28,700 while its fellow bank SHB gained 2.8 percent at VND7,200. SHB ranked second for liquidity with 2.7 million shares changing hands.

Petroleum technical service firm PVS again was the most actively traded stock with 2.8 million shares traded, rising 2.3 percent versus the previous session at VND17,800. Meanwhile, port operator PHP was the top loser on the northern market for shedding 9 percent at VND11,100.

https://english.thesaigontimes.vn/65397/stocks-jump-but-trade-remains-low.html

 


Category: Stocks, Vietnam

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