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Tuesday,  Oct 17,2017,20:14 (GMT+7)

Blue chips keep VN-Index buoyant

Phuong Thao
Friday,  Sep 15,2017,21:37 (GMT+7)
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Blue chips keep VN-Index buoyant

Phuong Thao

HCMC – Blue chips in the oil and gas, banking and securities sectors kept the market afloat for the third straight session on September 14, with the VN-Index adding 0.44% at 806.32 points.

VIC, a leading property firm, bounced back after a three-day losing streak, gaining 2.2% at VND49,150 a share with over one million shares changing hands. National gas group GAS was the top contributor to the uptrend, adding 3.6% at VND69,000 a share with matching volume of 940,000 shares.

According to Viet Capital Securities Company, GAS jumped to a two-year-and-a-half high and went up 34% over the last six months as the price of Brent crude oil rose above US$55 per barrel overnight for the first time since April, extending a 23% rally in the crude price over the last three months. Investor sentiment has also been bolstered by expectations of a Government plan to reduce its stake in GAS to 65% from 95.79% over 2018 and 2019.

VJC reached its highest level since its debut in February, rising 2.5% at VND137,700 a share The budget air carrier has advanced 10% so far this month.

Meanwhile, brewery stock SAB made the most negative move as it lost 1.7% at VND272,500 a share. PLX, a fuel retailer, closed down 0.4% after gaining 0.7% in the morning.

In the steel sector, HPG encountered profit taking pressure after its rallies early this week. The firm fell 0.5% at VND36,700 per share with matching volume slumping to over 2.9 million shares.

FLC kept standing out among speculative stocks as the property firm rose 0.5% at VND7,500 a share and took the lead by liquidity with 15.5 million shares changing hands. Construction firm ROS advanced 0.5% with volume of over four million shares.

On the other hand, investors strongly sold blue chips on the Hanoi market, pushing the HNX-Index down 0.05% at 104.38. However, trading on the exchange improved sharply, with volume and value jumping 113.7% and 91% to 10.2 million shares worth VND805 billion.

KLF, which focuses on trading and food services, saw its matching volume hitting a one-month high of 21.1 million shares. The stock jumped 5.7% at VND3,700 per share.

Most securities stocks increased. SHS climbed 3% at VND16,900 a share with volume of 3.3 million shares. Among the bank stocks, ACB lost 0.7% at VND28,200 a share with nearly two million shares traded and SHB moved flat with volume of 6.6 million shares.

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