Strong cash flow drives stock market up

27-May-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

Strong cash flow and the gains of many stocks of industrial zones and bluechips pushed VN Index up to 859.04 points today, May 25.

The main index of the Hochiminh Stock Exchange advanced by 6.3 points, or 0.74%, against the session earlier as gainers outnumbered losers by 218 to 145. Trade volume totalled 307.23 million shares worth VND5.87 trillion, up 1 percent in volume and 11 percent in value from the previous session. Block deals contributed VND1.4 trillion to the total value.

Dairy firm VNM was one of key contributors behind the rally of the main index, closing the day up 2.8%.

Some bluechips such as lender CTG, mobile phone retailer MWG, jewellery firm PNJ and retailer VRE posted an increase of over 1%.

Only eight stocks in the VN30 basket, including gas firm GAS, petroleum firm PLX, consumer goods producer MSN and budget airline VJC, fell below their reference prices.

The industrial zone stock group stole the limelight, with many stocks such as ITA, KBC, TIP and SZC going up to the ceiling prices.

Industrial zone developer ITA took the lead on the southern bourse by liquidity with some 14.1 million shares changing hands.

On the Hanoi Stock Exchange, the HNX-Index added 2.1 points, or 1.97%, to 109.15, supported by the gain of many bluechips.

Many stocks in the HNX30 basket closed the day up or stood at their reference prices, while only five others lost ground.

Some bluechips, including lender SHB, gas firm PVS, petroleum stock PVB and chemical firm DGC, were among key market drivers. SHB was the most actively traded on the northern exchange with 8.89 million shares changing hands.

https://english.thesaigontimes.vn/76891/strong-cash-flow-drives-stock-market-up.html

 


Category: Stocks, Vietnam

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