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Stocks approach 920 points

Phuong Thao
Wednesday,  Nov 22,2017,23:33 (GMT+7)
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Stocks approach 920 points

Phuong Thao

HCMC – High selling pressure erased more than 11 points from the VN-Index at the last minute but the index still closed with a strong rise for the second straight session on November 21.

Though decliners outnumbered advancers by 151 to 116, the main index still added 14.75 points, or 0.16%, against the previous day at 918.3. Turnover on the HCMC exchange rose 30.8% in volume and 14.6% in value to over 230 million shares worth nearly VND6.5 trillion.

Profit takers were active in the large cap group but many stocks still managed sharp increases. Notably, retail enterprise VRE closed at the upper limit of VND51,000 per share on matching volume of over eight million shares, in which foreigners net bought over 600,000 shares.

Meanwhile, foreign investors net sold 1.6 million shares of property giant VIC, the parent company of VRE. However, VIC advanced 0.9% at VND77,000 a share at the close with over 3.7 million shares changing hands.
In the VN30 basket, there were nine stocks declining or moving flat. Lender MBB was the volume leader with 9.4 million shares traded, followed by securities firm SSI with 7.9 million shares and bank stock CTG with over five million shares.

Among small stocks, property firm FLC was the most actively traded stock on the southern market, jumping 3% at VND6,500 per share on matching volume of 19.7 million shares. HTT, a trading enterprise, broke its four-day losing streak, hitting the ceiling price of VND5,920 a share with nearly 3.7 million shares traded.

The Hanoi market dropped for the second straight session, with the HNX-Index easing 0.08% at 108.02. There were 50.1 million shares worth VND689 billion exchanged, up 20.9% and 14.7% versus the session earlier respectively.

Lender SHB became the leader in terms of liquidity with over 8.2 million shares exchanged, followed by petroleum technical service firm PVS with six million shares and lender ACB with over two million shares. KLF, a trading and food service company, saw matching volume of over 3.9 million shares but it lost 2.8% at VND3,500 per share.

According to Saigon-Hanoi Securities Company, the market is expected to keep advancing in the coming time. However, a correction session is necessary for the main index to consolidate its uptrend.

The VN-Index may reduce slightly today but the decrease may be modest. The market is supported at the 910-point level, the brokerage said.

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