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Bank stocks send market up
Phuong Thao
Wednesday,  Sep 13, 2017,22:33 (GMT+7)

Bank stocks send market up

Phuong Thao

HCMC – Bank stocks drove the market up on September 12 after just one session of correction. The VN-Index closed near the 800-point level as it added a slight 0.31% against Monday at 799.94 points.

MBB was the top gainer among bank stocks, advancing 2.4% at VND23,000 per share with 6.4 million shares changing hands. STB was the only lender to close down while all other banks increased on strong turnover.
AAA, an environmental service company, stole the limelight as it soared 6.6% at VND34,800 a share. It ranked eighth in terms of liquidity on the HCMC market with its matching volume hitting a three-month high of 3.7 million shares.

Steel stocks bounced back after encountering high selling pressure on Monday, with HPG and HSG gaining on turnover of 3.1 million shares and 1.7 million shares respectively. However, the main index failed to beat the 800-point level as many large caps declined.

Notably, construction firm ROS ended its 20-session winning streak, losing 5.4% at VND114,000 a share with matching volume of 5.4 million shares. SAB, Vietnam’s top brewery, broke its eight-session rising streak with a 1.4% loss, closing at VND281,000 a share with 28,500 shares transacted.

Meanwhile, BHN, another brewery, shot up to the ceiling price of VND98,300 a share. Its trading volume remained sluggish with over 127,000 shares traded.

For the small stocks, real estate firm FLC again took the lead by liquidity with 8.5 million shares changing hands, climbing 1% at VND7,400 per share. Its associated firm FIT tumbled 6.5% at VND11,500 a share with trading volume of 5.4 million shares.

The HNX-Index rose 0.81% at 103.72 points while trading value on the Hanoi bourse slightly improved to VND563 billion. The put-through market reported value of nearly VND133 billion, mainly due to transactions of five million shares of building materials firm VGC valued at VND100 billion.

In the banking sector, ACB gained 1.1% at VND27,800 a share with matching volume of over 1.2 million shares. SHB was the most actively traded stock with nearly 3.9 million shares exchanged but it closed the session unchanged.

Aside from the large bloc deals, VGC drew the most attention thanks to its 5.3% surge at VND20,000 a share, with trading volume totaling around two million shares. BII, an industrial investment enterprise, plunged to the floor price of VND2,700 a share with over one million shares traded.

Foreign investors shifted to the selling side on the southern bourse as they net sold over VND68.8 billion of shares. Meanwhile, they net bought VND89 billion on the northern exchange.

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