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VN30 stocks rise on derivatives market launching
Phuong Thao
Friday,  Aug 11, 2017,13:57 (GMT+7)

VN30 stocks rise on derivatives market launching

Phuong Thao

HCMC – Many stocks in the VN30 basket advanced as the derivatives market started official operations yesterday with the VN30-Index futures contract launched first.

The VN30 Index added 0.28% at 743.42 as gainers outnumbered losers by 16 to 13. Ending the first session, the derivatives market saw 487 transactions made with the combined value of VND36.5 billion, said

Among advancers, brewer SAB jumped 2.9% at VND249,000 per share while dairy firm VNM increased 1% at VND151,500 a share. In contrast, property firms ROS and NVL lost 4.7% and 1.8% at VND90,500 and VND64,300 per share on volume of 3.5 million shares and 1.6 million shares respectively.

BID recovered early on after the strong decline on Wednesday because of a false rumor. However, the bank still closed the day down 0.5% at VND20,300 per share with over 4.4 million shares changing hands.

Notably, sugar company SBT plunged to the floor price for the fourth straight session at VND29,300 per share. Meanwhile, BHS, which will be merged into SBT, climbed 3.2% at VND19,500 a share, narrowing down the price difference between the two stocks.

Among the top five stocks in terms of liquidity, four stocks OGC, HQC, FLC and HAI closed in the red, in which agricultural chemical producer HAI dropped to the floor price on matching volume of 8.9 million shares. SCR, a real estate company, was the only gainer with nearly 7.9 million shares exchanged.

The VN-Index moved sideways, falling a slight 0.03% at 773.43. Turnover on the HCMC market tumbled with 190 million shares worth nearly VND3.3 trillion traded, including bloc deals worth VND283 billion.

The HNX-Index lost ground for the third consecutive session, dropping 0.1% versus the previous day at 100.97. Trading volume and value on the Hanoi market shed around 40% to 67.4 million shares worth VND590 billion.

Many stocks in the HNX30 basket advanced, in which lender SHB reported matching volume of 7.4 million shares. KLF, a trading and food service company, took the lead for liquidity with 12.8 million shares but it plunged to the floor price of VND3,600 a share.

According to BIDV Securities Company, yesterday’s drop was not a bad sign as the VN-Index was still above the short-term supporting level at 770 points. The main index approached the reference price at the end of the afternoon phase, suggesting better movements today.

The market is expected to seesaw in a narrow range and test the supporting level again today. Investors are advised to buy more stocks during falling sessions, it said.

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