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VN-Index strongly rebounds

Phuong Thao
Friday,  Nov 3,2017,00:07 (GMT+7)
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VN-Index strongly rebounds

Phuong Thao

HCMC – Most stocks continued sliding on November 1 but a number of large-cap stocks rallied, supporting the VN-Index of the HCMC bourse to soar.

The index closed the day at 842.71 points, 5.43 points higher than the previous day. Turnover, however, dropped slightly versus the previous session with 172 million shares worth VND3.8 trillion traded, including VND638 billion in put-through deals.

Construction firm ROS eased off just one day of heavy loss, hitting the ceiling price of VND214,000 a share, with matching volume amounting to 1.47 million shares.

VNM, a dairy giant, also bounced back after two days of decline, adding 2.6% at VND155,000 per share with 1.5 million shares changing hands. The State Capital Investment Corporation on November 1 announced a sale of 3.3% of the Vinamilk (VNM) shares which it is holding with the starting price fixed at VND150,000 per share, higher than the previous sale at VND144,000.

According to securities firms, a higher starting price is expected to prompt the VNM stock to rally in the lead up to the public auction on November 10.

Other large caps such as low-cost carrier VJC and brewery SAB also made positive movements. The banking sector performed strongly. BID gained 2.2% with 2.5 million shares traded and VCB added 0.5% with matching volume of 2.1 million shares.

In contrast, many speculative stocks plunged to their floor prices. HQC, a realty firm, was the most actively traded stock with 12.7 million shares changing hands but it still slumped to its floor price of VND2,540 per share.

The HNX-Index fell for the third straight session, losing 0.17% from the session earlier at 104.98 points. Turnover on the Hanoi market was equivalent to Tuesday with 46.1 million shares worth VND494 billion traded.

Among the big-cap stocks, lender ACB closed with a mild increase of 0.3% after advancing in the morning. Meanwhile, PGS, a gas trading enterprise, went up to the upper limit of VND22,100 per share with modest trading volume of 10,500 shares.

SHB again took the lead by liquidity with over 12 million shares transacted. The bank climbed 1.28% versus the previous session at VND7,900 per share.

Foreigners became active on the buying side, net purchasing over VND233.6 billion worth of shares on the HCMC market and VND10.4 billion on the Hanoi bourse.

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