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Tuesday,  Oct 17,2017,20:20 (GMT+7)

Property, steel stocks advance

Phuong Thao
Thursday,  Sep 14,2017,19:31 (GMT+7)
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Property, steel stocks advance

Phuong Thao

HCMC – The stock market beat the 800-point level again on September 13 as many stocks in the property and steel sectors edged up. The VN-Index rose 2.84 points, or 0.36%, against the previous day to close at 802.78.

Among steel makers, HPG contributed 2.75 points to the main index and the VN30-Index for jumping 4.1% with matching volume of over 5.9 million shares. The stock has strongly attracted investors thanks to bright business prospects in the third quarter and steady rises in sales and goods prices.

BMP was the biggest gainer in the VN30 basket as the plastic firm has raised the foreign ownership limit to 100%. Besides, the State Capital Investment Corporation is divesting capital from it.

Many real estate stocks increased on high turnover. FLC, which closed up 1.5%, was the most actively traded stock with 7.1 million shares while SCR and ASM rose by 4% and 3.3% respectively.

ROS, a construction company, recovered 0.9% after a steep decline on Tuesday and reported trading volume of over four million shares. However, the banking and securities sectors saw a decline in cash flow while many large caps lost steam after recent rallies.

Leading beverage firm SAB fell for the second straight day after an eight-session winning streak, losing 1.3% at VND277,300 a share. Property giant VIC closed near the intraday low of VND48,100 per share, falling 2.4% against the session earlier with volume of 983,000 shares.

The Hanoi market made a steady rise helped by strong blue chips, lifting the HNX-Index up 0.68% at 104.43. There were 39.2 million shares worth VND513.8 billion changing hands at the end of the day, down 10.2% and 8.5% respectively.

The HNX-Index also rose to 193.29 points as there were 12 stocks rising, nine falling and nine closing flat.
SHB again took the lead by liquidity with 4.8 million shares traded but the lender closed unchanged at VND7,700 per share for the second straight session. Meanwhile, bank stock ACB added 2.2% at VND28,400 a share with matching volume of 677,000 shares.

Foreigners stayed on the selling side, net selling VND12.7 billion on the HCMC market and VND4.9 billion on the Hanoi bourse.

According to vietstock.vn, the uptrend remains vulnerable as trading is sluggish. As the VN-Index and large caps may test strong resistance levels, investors should be cautious, especially when exchange traded funds will rebalance portfolios in the next few days.

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