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HOSE turnover hits record high

Phuong Thao
Wednesday,  Nov 8,2017,23:30 (GMT+7)
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HOSE turnover hits record high

Phuong Thao

HCMC – Large put-through transactions of newly listed Vincom Retail Company (VRE) pulled turnover on the Hochiminh Stock Exchange (HOSE) to a new high on November 7, with trading value rocketing 3.5 times versus the previous session to VND20.4 trillion.

There were nearly 415 million shares of VRE traded in block deals with the combined value of VND16.8 trillion. Of the figures, foreigners bought 396.6 million shares and sold 260.4 million shares of VRE, resulting in a net purchase of 136.2 million shares worth over VND5.5 trillion.

Before listing on HOSE, the enterprise had two foreign investors, Warburg Pincus Investments and Credit Suisse Singapore Branch holding 15.17% and 5.06% respectively. According to vietstock.vn, the two investors announced to reduce their ownerships to 4.9% and 1.6% respectively after the listing, equivalent to around 260.4 million shares to be sold.

Meanwhile, VIC, the parent firm of VRE, climbed 2.5% at VND62,000 a share on matching volume of 1.6 million shares, turning the top positive contributor to the VN-Index. Lender CTG also performed well, adding 0.5% at VND19,500 a share with 3.2 million shares changing hands.

Among oil and gas stocks, PVD jumped 5% to VND16,900 per share on volume of 8.7 million shares given the sharp rise of global oil price.

The large caps kept the main index afloat despite high selling pressure in the afternoon phase, with the VN-Index rising a slight 0.15% against the previous session at 850.33.

Meanwhile, speculative stocks encountered strong profit taking pressure. Property firm FLC was the volume leader with over 17 million shares exchanged, followed by agricultural chemical producer HAI with 7.7 million shares.

Having hit the upper limit for two sessions in a row, HBC, a construction company, lost 1.9% at VND54,000 a share on volume of 2.3 million shares.

HTT, a trading enterprise, saw its matching volume soaring to 3.8 million shares. HTT went up to the ceiling price for the second straight session after announcing land sales and capital divestment.

The HNX-Index, meanwhile, fell 0.25% at 104.83. There were 40.7 million shares worth VND464 billion traded on the Hanoi market, up 17% and 5.4% against the session earlier respectively.

Oil price hike also fueled up petroleum stocks on the exchange. Notably, PVS gained 3.2% at VND16,300 a share and took the lead for liquidity with over 7.7 million shares traded.

Property firm CEO also rose 2.7% at VND10,700 per share on volume of nearly 3.7 million shares. Meanwhile, other pillar stocks such as lenders ACB and SHB and brokerage firm SHS declined or moved sideways.

KLF, a trading and food service enterprise, was the second most actively traded stock with 4.6 million shares, closing unchanged at VND3,800 a share.

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