VN Index soars to near 950 points

01-Aug-2018 Intellasia | The Saigon Times | 6:02 AM Print This Post

The VN Index of the Hochiminh Stock Exchange got a huge boost today, July 30, as many blue chips attracted cash flow, soaring a massive 14.21 points, or 1.52 percent, at 949.73.

Market breadth was positive with 172 stocks up versus 114 others closing down. Turnover on the southern bourse slightly improved as volume and value added 8 percent and 2 percent against the previous session to 193 million shares worth VND3.7 trillion.

Bank stocks again led the uptrend as eight out of nine listed banks advanced with heavy matching volume. TPB was the only loser in the banking sector, dipping 3.8 percent at VND25,600 per share.

STB was the volume leader in the sector with 5.1 million shares changing hands, followed by MBB with 4.1 million shares, BID and VPB with 3.7 million shares each.

VHM, a housing developer, also made significant contribution to the main index, adding 4.3 percent at VND110,500 per share. Among its associated enterprises, property firm VIC closed at the reference price of VND106,400 per share and retailer VRE increased 1.5 percent at VND39,800 a share.

Notably, steel maker HSG hit the upper limit of VND11,750 a share with matching volume of 6.2 million shares. GMD, a logistics enterprise, also closed at the ceiling trading of VND26,150 per share, buoyed by strong demand in the afternoon phase.

Small stocks continued luring investors, with FLC leading the market for liquidity with over 29.3 million shares changing hands, its record high since March 27. The property firm shot up to the ceiling price of VND6,520 per share.

Its associated firms, however, came under strong selling pressure. HAI, an agricultural chemical firm, plunged to the floor price of VND3,700 a share and ranking second by liquidity with 8.7 million shares traded, while mining firm AMD lost 6.3 percent at VND3,720 per share.

HAG, another real estate enterprise, kept advancing as it rose to its daily limit of VND7,580 a share on volume of seven million shares. Its agricultural affiliate HNG, meanwhile, climbed 5.5 percent at VND17,250 per share with volume of 3.7 million shares.

The HNX-Index of the Hanoi Stock Exchange jumped 1 percent at 106.76, buoyed by heavyweights in the banking and property sectors. Trading volume and value on the market slid 11 percent and 9 percent versus last Friday at 35.5 million shares worth VND428.5 billion.

KLF, a trading and food service firm, turned the most actively traded stock with 5.6 million shares transacted, but it moved sideways at VND2,300 per share. Lender SHB ranked second with five million shares, gaining 2.5 percent at VND8,300 a share.


Category: Stocks, Vietnam

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