Stocks rise further

09-Apr-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

Some big-cap stocks propped up the local stock to firmly advance at the close today, April 7, with the VN Index in the HCM City market recording five winning sessions in a row.

The benchmark index experienced bottom-fishing pressure and remained volatile in morning trade. However, the pillar stocks staged an impressive performance and extended rally till the end of the session, saving the southern market from suffering losses.

In the Vingroup family, housing developer VHM and retailer VRE rose to their ceiling prices.

Some other key stocks gained sharply. Dairy firm VNM inched up 2.4 percent at VND98,500 per share. Brewery SAB added 3.8 percent and mobile phone retailer MWG soared a massive 6.7%. Similarly, insurer BVH edged up 5.6%.

Bank stocks made slight gains, with most of them such as VCB, BID, MBB and HDB ending in positive territory.

However, due to an upsurge in selling pressure, the two fuel stocks GAS and PLX turned party spoilers as they ended in the red.

Overall, the main index gained 9.94 points, or 1.35 percent versus Monday, at 746.69, with advancers outnumbering decliners by 200 to 153. Over 290 million shares worth VND4.7 trillion were transacted on the southern bourse, down 12.25 percent in volume but up a slight 2.73 percent in value against the day earlier.

On the Hanoi bourse, the HNX-Index also faced volatility after rocketing in the previous session. However, with the support of bluechips, the index ended up 0.17 point, or 0.16%, to stay at 103.43, with 68 stocks rising and 72 others falling.

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Category: Stocks, Vietnam

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