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ROS fuels market recovery

Phuong Thao
Wednesday,  Oct 25,2017,17:53 (GMT+7)
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ROS fuels market recovery

Phuong Thao

HCMC – Pillar stock ROS sent the local market back to the positive territory on October 24 as the construction firm went up to the ceiling price for the fifth straight session.

ROS closed the session at VND161,300 per share with over 1.5 million shares traded. Earlier, the firm had hit the ceiling price for three sessions in a row before gaining 6.7% on Monday.

National gas firm GAS was also a major contributor to the market recovery, adding 2.3% at VND69,700 per share, lifting the VN-Index up 5.2 points, or 0.63%, at 825.24.

The HCMC bourse saw trading volume shrinking 14.3% against the previous day at 180.4 million shares while value jumped 39% at VND6.2 trillion. If put-through transactions of dairy stock VNM were excluded, turnover was dismal with matching value contracting 25.6% at more than VND2.7 trillion.

VNM ended its four-day losing streak with a fractional rise, closing at VND149,000 a share with matching volume surging to 18.9 million shares due to strong foreign trading. The enterprise also announced on October 24 a plan to hold a 65% stake at a sugar company.

In the property sector, FLC again took the lead for liquidity with 25.5 million shares exchanged, followed by HQC with over five million shares. The two stocks closed with modest gains while smaller firms LCG and IJC hit the ceiling prices.

Among speculative stocks, agricultural firm HAI again plunged to the floor price of VND9,360 a share with nearly 3.9 million shares traded. HAR, a real estate trading firm, gained 3.1% at VND11,600 per share on volume of 2.5 million shares.

The Hanoi market also bounced back after a four-day losing streak, with the HNX-Index climbing 0.42% from the previous session at 106.69. There were 42.7 million shares worth VND496 billion traded at the end of the day, down 40% and 28.8% respectively.

Among 10 volume leaders, PVS, a petroleum technical service provider, was the only loser while lender SHB and property firm CEO moved flat and the remaining stocks increased. KLF, which operates in the trading and service sector, was the most heavily traded stock with over 5.6 million shares changing hands, followed by SHB with 5.2 million shares.

Foreigners net sold nearly VND33 billion worth of shares on the southern bourse, but they stayed on the buying side on the northern exchange with a net buying value of over VND5 billion.

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