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VN-Index near 780 points

Phuong Thao
Friday,  Jul 14,2017,14:27 (GMT+7)
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VN-Index near 780 points

Phuong Thao

HCMC – The VN-Index got closer to the strong resistance of 780 points in the third straight winning session on July 13 but turnover on the HCMC market was still flat.

As advancers outnumbered decliners by 142 to 137, the VN-Index added 4.13 points, or 0.53%, at 778.3. Turnover was almost the same as the previous session with more than 200 shares worth VND3.5 trillion changing hands.

Large-cap stocks remained the biggest positive contributors, with PLX, GAS, VNM and HPG lifting the main index up by nearly 2.7 points.

Bank stocks sharply recovered after poor performances on Wednesday, with BID advancing 1.3%, CTG rising 1% and VCB inching up 0.5%. Among oil and gas stocks, national gas giant GAS increased 1.1%, having soared to a seven-month high in the previous session, helped by a 1.5% Brent crude price rise in Asian trading.

Most speculative stocks gained ground, excluding financial group OGC which again plunged to the floor price of over VND2,500 per share due to high selling pressure.

FLC, a real estate enterprise, eased off its five-day losing streak, edging 1.8% higher, and closed at over VND7,200 a share. It led the HCMC exchange by liquidity with 16.8 million shares traded. Meanwhile, real estate investment firm HAG and its agricultural affiliate HNG added 3.3% and 2.5% with matching volume of 9.2 million and 1.7 million shares respectively.

The HNX-Index rose for the third straight session, up 0.2% at 100.76. Turnover on the Hanoi market slightly improved with 60.9 million shares valued at VND631 billion changing hands.

Among bank stocks, SHB increased 1.2% while ACB moved sideways. Some petroleum stocks recovered strongly, with PVB going up to its upper limit, PVC gaining 1.3% and PVI up nearly 2%.

Foreigners remained on the buying side but their trading was modest. The investors net purchased VND37.5 billion of shares on the HCMC market and just more than VND300 million on the Hanoi exchange.

Notably, they net sold large bank stocks on the northern bourse, including one million shares of SHB worth VND8.1 billion and 141,000 shares of ACB valued at VND3.6 billion.

According to vietstock.vn, both markets saw positive signs yesterday as selling pressure eased and the stock indexes kept advancing. Most sectors performed well and blue chips reported active transactions.

However, investors are advised to stay cautious today as cash was still running out of large caps, it said.


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