VN Index narrowly escapes loss

15-Feb-2020 Intellasia | The SaigonTimes | 6:02 AM Print This Post

The VN Index of the Hochiminh Stock Exchange today, February 13, felt almost no impact of an upsurge in coronavirus deaths and infections in China.

Closing the session, the benchmark index inched up 0.56 point, or 0.06%, from the session earlier 938.24, though losers still outnumbered gainers by 185 to 146. Stock trading ebbed sharply, with volume shrinking 22 percent at 177.7 million shares and value shedding 24 percent at VND3.2 trillion.

Bank stocks declined in morning trade before bouncing back slightly. CTG ended the day up 0.18 percent at VND27,250 and took the lead by liquidity on the HCM City market with nearly 9.5 million shares traded.

VPB added 2.9 percent at VND26,600 with matching volume of 3.7 million shares. STB and MBB dropped slightly but their trading volumes were high, at 7.8 million and 6.5 million shares, respectively.

Oil and gas stocks attracted cash flow as global oil prices improved. Overnight, US crude futures rose 1.36 percent to $50.62 a barrel, while Brent crude climbed 1.74 percent to $54.95 per barrel.

Notably, small and medium-cap stocks performed well. Construction firm ROS and sugar producer SBT hit their daily upper limits on matching volumes of seven million and 2.6 million shares. ROS hit its ceiling price for the fifth consecutive session today, while SBT soared to its ceiling in two out of the four recent sessions.

According to BIDV Securities Company, EU Parliament’s approval on Wednesday of two important deals with Vietnamthe European-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA)will have a positive impact on the local stock market.

“Some sectors that have benefited from the two agreements include textiles, aquaponics and seaports,” the brokerage said.

The Hanoi Stock Exchange corrected after its strong rally on Wednesday, with the HNX-Index dipping 0.32 point, or 0.3%, at 108.19. Trading volume dropped 8 percent against the previous session at 40.6 million shares while value slumped 18 percent at VND480 billion.

Most large-cap stocks on the northern market declined, with the top lender ACB sliding 0.4 percent at VND25,500 on matching volume of over 3.7 million shares. SHB, another bank stock, was the volume leader with nearly 11.6 million traded, but it lost 1.4 percent at VND7,200.


Category: Stocks, Vietnam

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