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Stocks rise after one losing session

Phuong Thao
Tuesday,  Jan 9,2018,20:21 (GMT+7)
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Stocks rise after one losing session

Phuong Thao

HCMC – The stock market on January 8 resumed its strong rally after just one losing session, with the VN-Index adding a hefty 10.25 points, or 1.01%, at 1,022.9.

The banking sector remained the best performer although the HCMC People’s Court began the trial of former bankers charged with deliberately violating regulations on economic management causing severe consequences at the Vietnam Construction Bank. Among the 200 people summoned to court were Tram Be, former deputy chairman of Sacombank (STB), and Phan Huy Khang, former general director of Sacombank.

STB and EIB went up to their ceiling prices of VND14,550 and VND13,800 a share respectively. STB took the lead by liquidity on the HCMC market with volume of 33.8 million shares while EIB reported volume of over 2.9 million shares.

MBB was the third most actively traded stock with 9.1 million shares traded, climbing 4.9% at an intraday high of VND27,450 per share. VCB also gained 2.6% at VND55,400 a share while CTG added 2.4% at VND25,700 per share with trading volume of five million shares.

Among the large caps, PLX, a leading fuel distributor, advanced 6.3% at VND84,000 a share with matching volume of 1.1 million shares. Consumer goods producer MSN leapt 4.8% at an intraday high of VND88,800 per share while property firm VIC rose a slight 0.4% at VND80,300 per share.

In contrast, dairy firm VNM lost 1.6% at VND210,000 a share, brewery SAB declined 1.2% at VND261,000 a share and gas firm GAS closed at the reference price of VND100,400 per share.

Other outstanding advancers included property firm DXG, which went up to its ceiling price of VND23,250 per share with 5.3 million shares changing hands. SBT, a sugar firm, soared 6.5% at VND22,900 a share and ranked second in terms of liquidity with 13.4 million shares traded.

On the Hanoi market, the HNX-Index picked up 2.16 points, or 1.81%, at 121.08. There were 66.4 million shares worth VND952 billion changing hands, down 8.1% and 28.5% against last Friday respectively.

For the banking sector, ACB rose by 3.3% against the previous session to an intraday high of VND40,100 per share, and SHB, the volume leader with 16.6 million shares traded, rose nearly 4.2% at VND10,000 a share. PetroVietnam Construction Corporation (PVX), whose several former leaders were also summoned at the trial on January 8, shot up to the ceiling price of VND2,500 a share with trading volume of 10.5 million shares.

Foreign investors remained strong net buyers on the southern exchange due to a net buying value of VND622 billion. Meanwhile, they net sold nearly VND19 billion of shares on the northern bourse.

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