Strong cash flow helps stock market rebound

30-Sep-2020 Intellasia | The Saigon Times | 6:02 AM Print This Post

Bluechips in various sectors such as banking, securities and steel production recovered strongly thanks to the massive cash flow, helping the local stock market rebound today, September 28 after two consecutive declining sessions late last week.

The VN Index of the Hochiminh Stock Exchange rose by 0.47%, or 4.23 points, to close the day at 912.5 points, with winning stocks outnumbering losers by 247 to 159.

More than 420 million shares worth VND7.25 trillion were traded on the southern bourse, increasing by 16.34 percent in volume and 15.55 percent in value against the previous session. Put-through deals contributed VND972.8 billion to the overall value.

Bank stocks were outstanding cash magnets and therefore the main contributors behind the stock market growth. STB grew by 3.8 percent to VND13,800 per share, while CTG inched up 3.6 percent to VND27,150 per share. Other bank stocks such as TCB, MBB and VPB rose by approximately 2%.

Steel stocks were also among the biggest gainers, with HSG, NKG and TLH expanding by 5.6 percent to VND16,100 per share, 1.9 percent to VND8,600 per share and 1.6 percent to VND3,900, respectively. VGS shot up to the ceiling price at VND8,000.

In the VN30 basket, financial service provider TCH increased by 1.2 percent to VND20,950, with 6.87 million shares changing hands. This good performance followed the information that Nguyen Thi Ha, a member of the company’s Board of directors, registered to buy 18 million TCH shares from October 1 to 30.

In the group of speculative stocks, property group FLC soared to its ceiling price at VND3,420 per share.

STB was the most actively traded stock on the southern market, with 28.88 million shares changing hands, followed by FLC with 28.62 million shares.

On the northern bourse, the HNX-Index increased by 1.22%, or 1.6 points versus the previous session to close the day at 133.12 points. The number of gainers nearly doubled that of decliners, with 99 stocks advancing and 54 stocks losing. There were 52.3 million shares worth VND669.5 billion traded.

Bank stocks were the best performers, with ACB, SHB and NVB increasing by 1.8%, 1.3 percent and 2.3%, respectively.

Many securities stocks also gained ground. APS edged up 4%, while BVS, SHS and SSI rose by 2.5-2.7%.


Category: Stocks, Vietnam

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