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VN-Index hits 730 points

Phuong Thao
Wednesday,  Apr 12,2017,23:25 (GMT+7)
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VN-Index hits 730 points

Phuong Thao

HCMC – Trading remained lackluster on April 11 but the market still beat the strong resistance of 730 points, helped by blue chips and key stocks in the banking and mining sectors.

The VN-Index closed at 731.33 points, rising 0.2% against Monday. Trading value on the HCMC market fell slightly to VND3.6 trillion while volume surged 22% to more than 210 million shares.

Banking stocks were key drags in the morning but they bounced back strongly after lunch break. VCB, CTG and MBB, which advanced by 0.5% to 2.3% each, and VNM drove up the main index by 0.2% while beverage stocks SAB and BHN dragged the index down by nearly 0.1%.

The mining sector also provided significant support for the upward trend, in which LCM and DHM hit the ceiling prices. In contrast, GAS lost 0.2% at VND56,800 a share after three consecutive losing sessions while three other petroleum stocks, PVC, PVB and PGS, closed sideways.

Notably, property stocks dropped strongly due to strong selling in the afternoon, in which ITA plunged to its floor price with matching volume of 19.8 million shares. Investors also flocked to offload HQC shares, sending the stock down 6.8% with volume of 29.8 million shares, after HQC announced 2016 audited business results with net profit slumping 82% compared to an earlier estimate.

Besides, FLC fell 0.2% to close at an intraday low of VND8,000 per share with trading volume of 26.7 million shares. DXG also declined 1.7% at VND22,600 a share with over four million shares traded.

Meanwhile, blue chips on the Hanoi market sent the HNX-Index up 0.22% at 90.63, with turnover soaring 43% versus the previous session to VND988 billion. The HNX30 group gave the most positive contribution, with 15 gainers and six losers.

ACB was the most negative contributor as it closed at an intraday low of VND23,700 a share with matching volume of 3.4 million shares. On the other hand, foreign investors net sold over 1.3 million SHB shares but the bank still jumped 7.9% at VND6,800 per share, with its matching volume hitting a record high of 35.5 million shares. SHB alone gave nearly 0.31% to the northern index.

Realty stocks also maintained positive momentum, with HUT advancing 3.7% with volume of 2.3 million shares, VCG adding 1.9% with 1.86 million shares and CEO gaining 2.5% with 4.2 million shares traded.

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