VN Index beats 1,000-point mark

06-Jun-2018 Intellasia | The Saigon Times | 6:00 AM Print This Post

Though cash flow turned weak over investor caution, the stock market rallied on June 4 as blue-chip and bank stocks advanced strongly.

The VN Index of the Hochiminh Stock Market beat the strong psychological level of 1,000 points again after easing off this very threshold around two weeks ago, jumping 20.91 points, or 2.11 percent, at 1,013.78. The HCM City bourse saw just 94 stocks losing and 205 others advancing, with 30 of them shooting up to their ceiling prices.

Turnover on the exchange ebbed as trading volume and value edged 18.6 percent and 14.5 percent lower than last Friday at 166 million shares and VND5 trillion. The put-through market was quiet as only 19.2 million shares valued at VND653 billion changed hands.

Among the top 10 heavyweights, leading gas firm GAS and beverage company SAB were the only losers, dipping 0.22 percent and 1.4 percent at VND92,300 and VND241,600 a share respectively. In contrast, property firm VIC gained 0.8 percent at VND120,000 a share, replacing its affiliate VHM to become the leading stock in terms of market cap.

The banking sector outperformed the VN Index, with STB and VPB hitting their ceiling prices and others increasing from 3 percent to 5.3 percent each. STB was the most actively traded stock with 7.4 million shares transacted.

However, Techcombank (TCB), which now ranks seventh by market cap, plunged to its floor price of VND102,400 a share with matching volume of 2.8 million shares. The bank debuted on the southern market today, offering over 1.16 billion shares at the starting price of VND128,000 each.

Many blue chips helped keep the uptrend afloat, in which low-cost carrier VJC hit the upper limit for the second straight session and closed at VND170,300 per share.

The HNX-Index of the Hanoi Stock Exchange climbed 2.22 percent to end the day at an intraday high of 118.32. The Hanoi market saw 55.6 million shares worth nearly VND816 billion traded, equivalent to those in the previous session.

Most large caps gained strongly, in which lender SHB added 4.3 percent at VND9,600 a share and took the lead by liquidity with 12.2 million shares traded. Meanwhile, plastic company NTP dropped nearly 0.2 percent at VND52,900 per share and port operator PHP closed at the reference price of VND12,700 a share.

Foreign investors net sold 4.18 million shares on the HCM City bourse but reported a net buying value of VND4.5 billion. Meanwhile, they net sold VND66.8 billion of shares on the Hanoi exchange. Index-beats-1000-point-mark.html


Category: Stocks, Vietnam

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