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Friday,  Nov 24,2017,05:12 (GMT+7)

VN-Index leaps over 830 points

Phuong Thao
Thursday,  Oct 26,2017,23:08 (GMT+7)
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VN-Index leaps over 830 points

Phuong Thao

HCMC – Bank stocks and a number of large caps lifted the local market up for the second straight session on October 25, with the VN-Index climbing 5.45 points, or 0.66%, at 830.69.

All lenders reported nice gains on October 25, in which VCB was the top contributor to the main index with a 1.9% rise. Among large caps, dairy giant VNM added 1% while low-cost carrier VJC rose 0.5% at VND109,500 per share.

Meanwhile, many property stocks, having increased strongly in the morning, succumbed to strong selling pressure in the final matching phase. ROS, a construction company, again bucked the trend, jumping 6.6% to a new high of VND172,000 a share with over 1.5 million shares traded.

Hoang Thach Lan, head of individual client analysis at Viet Dragon Securities Company, said on vietstock.vn that some real estate stocks are forecast to make impressive improvements in the third quarter, but only due to better market conditions this year and low results in the same period in 2016.

Some property stocks will advance due to positive business results. However, it is not sure that the entire realty sector will increase, Lan said.

Turnover on the HCMC market reached 160 million shares worth VND4.3 trillion. However, if put-through transactions were excluded, matching volume and value on the bourse slid 13.4% and 6.6% against the previous day at 120.6 million shares worth VND2.5 trillion.

Most speculative stocks encountered strong selling pressure, in which agricultural firm HAI plunged to the floor price for the fourth straight session. Property firm FLC remained the volume leader on the southern bourse with nine million shares exchanged but it fell 0.42% at VND7,110 a share.

In contrast, An Giang Province-based seafood firm ASM shot up to the upper limit of VND11,400 per share and became the second most actively traded stock with 6.7 million shares traded. Sugar firm SBT also hit the ceiling price of VND22,850 a share on matching volume of over two million shares.

Meanwhile, on the northern bourse, bank stock ACB lifted the market up for the second straight session. The HNX-Index closed the day at 107.4, rising 0.67% from Tuesday, while turnover slightly reduced to VND483.8 billion.

Property firm CEO, which jumped 4.9% at VND10,700 a share, took the lead for liquidity with nearly 5.7 million exchanged, followed by hydropower plant developer SDT with 4.3 million shares and lender SHB with 2.6 million shares.

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