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VN-Index beats the 1,000-point level

Phuong Thao
Thursday,  Jan 4,2018,23:20 (GMT+7)
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VN-Index beats the 1,000-point level

Phuong Thao

HCMC – The VN-Index conquered the important psychological level of 1,000 points thanks to strong cash flow on January 3, adding 9.9 points, or 0.99%, versus Tuesday at 1,005.67, a level unseen in a decade.

The historic index of 1,170 points was recorded in March 2007 when the stock market was in a wild, feverish mood, but ever since the stock market has taken a deep dive lasting for years.

Ending the session on January 3, trading volume and value improved 27.5% and 11.6% at 237.3 million shares worth VND6.3 trillion, including 24.5 million shares traded in block deals with the combined value of VND666.4 billion. FLC, a speculative stock active in the property sector, was the volume leader with 15.8 million shares traded, followed by lender STB with 15.6 million shares.

Most bank stocks saw slight correction after nice rallies on Tuesday, preventing the main index from hitting the 1,010-point level. BID slid 0.7% at VND26,800 a share, CTG fell 0.6% at VND24,800 per share while MBB lost 0.9% at VND26,300 per share.

Among securities firms, SSI hit the intraday high of VND30,200 per share and ranked third for liquidity on the southern bourse with 10.3 million shares traded. Meanwhile, HCM jumped 4.2% at VND62,000 a share and BSI gained 2% at VND15,100 per share.

Many large caps kept advancing, in which dairy enterprise VNM rose 1.1% at VND213,900 per share and brewery firm SAB climbed to the intraday high of VND265,000 a share, up 5% versus the previous session. Petroleum stock PVD closed near the upper limit at VND24,400 a share, rising 6.1% against Tuesday.

In contrast, construction firm ROS fell 4.4% at VND162,000 per share on matching volume of 1.28 million shares.

On the Hanoi market, the HNX-Index rose 0.27% at 119.19 though losers still outnumbered gainers by 103 to 73. There were 86.7 million shares worth VND1.7 trillion changing hands at the end of the day, soaring 20.7% and 79% from the session earlier respectively.

In the banking sector, ACB dropped a slight 0.26% at VND38,700 a share while SHB, which closed at the reference price, became the most actively traded stock with 15.7 million shares exchanged.

The oil and gas sector saw strong performers with PVS going up to the ceiling price of VND25,300 per share on volume of nearly 14 million shares and PVC jumping 2.4% at VND25,300 a share.

Foreigners remained strong net buyers, net purchasing around VND226 billion worth of shares on the southern bourse, focusing on blue chips like property giant VIC and steelmaker HPG. They net bought over VND22.5 billion on the northern market.

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