Stocks rebound on bottom fishing

11-Jun-2021 Intellasia | The Saigon Times | 5:02 AM Print This Post

The local stock market recovered strongly today, June 9, as investors rushed to bottom-fish bank, securities and steel stocks.

Closing the day, the VN Index added 13.02 points, or 0.99%, at 1,332.9 points with gainers outnumbering losers by 222 to 170.

Trade volume fell 11 percent to 822.3 million shares while the value dropped 14.6 percent to nearly VND25.9 trillion. Some 52.5 million shares valued at VND1.6 trillion were traded in block deals.

Most of bank stocks rose, except for SSB, which fell 6.5 percent at VND40,200.

Notably, LPB rocketed from its floor price yesterday to its ceiling level, at VND31,250, today and saw nearly 23.2 million shares matched.

ACB also surged 5.6 percent at VND42,450 with 12.6 million traded. In addition, VIB added 5.1 percent and STB, HDB, MBB and CTG posted an increase of over 3 percent each.

Among the large-cap stocks, VCB picked up 2 percent to its intra-day high of VND102,000.

Steel stocks also bounced back slightly. Specifically, HPG inched up 0.6 percent at VND50,300 and saw nearly 41 million shares transacted.

HSG picked up 2.2 percent at VND43,200 and TLH edged up 1.8 percent at VND17,200.

Meanwhile, securities stocks continued flying high.

CTS surged 6.7 percent at VND22,200; VCI rose 6.3 percent at VND84,500 and SSI expanded 6.1 percent at VND46,700. There were 21.3 million SSI shares changing hands.

The active bottom fishing also helped the HNX-Index of the Hanoi Stock Exchange reached its highest level of the day before easing slightly at the end of the day.

The index gained 10.49 points, or 3.42%, at 316.87 points. Trading volume and value dipped 36 percent against the session earlier to some 151.7 million shares worth over VND3.6 trillion

Many securities stocks reached their highest levels of the day, such as VND, BSI, VIG, APS, WSS and HBS.

Others also reported a sharp increase, such as SHS soaring 7.9 percent at VND36,800 and seeing 10.7 million shares traded.

Moreover, MBS and BVS surged 9.4 percent and 9.5 percent at VND27,900 and VND27,700, respectively.

Bank stocks were not outsiders to the trend. Specifically, SHB increased 7.9 percent at VND31,300 and saw 29.9 million shares transacted, leading the northern bourse in terms of liquidity.

Meanwhile, petroleum stocks were split. PVS rose 5.2 percent at VND28,400, while the remainder dropped.

https://english.thesaigontimes.vn/82447/stocks-rebound-on-bottom-fishing.html

 

Category: Stocks, Vietnam

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