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Bank stocks drive up VN-Index

Phuong Thao
Friday,  Jan 12,2018,21:31 (GMT+7)
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Bank stocks drive up VN-Index

Phuong Thao

HCMC – All eight bank stocks on the HCMC exchange gained ground with turnover turning strong on January 11, helping the VN-Index jump 10.06 points, or 0.97%, versus the previous session at 1,048.17.

STB again took the lead by liquidity on the southern bourse with 24.1 million shares changing hands, rising 4.2% at VND16,250 a share. HDB rallied for the fifth straight day, adding 5.5% at VND42,500 per share, while MBB advanced 1.4% at VND28,150 per share with matching volume of 9.9 million shares.

However, the stock exchange saw turnover declining compared to Wednesday, with trading volume and value shedding 16% and 13.8% to 314.6 million shares and VND7.9 trillion. There were 26 million shares worth VND1.2 trillion traded in put-through trade, including 3.6 million shares of property firm NVL and 1.5 million shares of retail group VRE.

Among heavyweights, PLX, a leading fuel distributor, gained 3.8% at VND88,200 a share while VRE added 4.2% at VND51,900 per share with volume of 2.6 million shares. Low-cost carrier VJC climbed a massive 5% at VND153,900 per share after announcing positive business results and cash dividend payment for 2017.

Many speculative stocks also performed well. Property firm FLC, the second most actively traded stock with 16.7 million shares, rose 1.6% at VND7,140 per share, while its fellow realty firm HQC added 3.6% at VND2,840 a share with volume of 12.8 million shares.

OGC, a financial investment group, went up to the ceiling price at VND2,300 a share with volume of 10.7 million shares. In contrast, health equipment firm JVC plunged to the floor price of VND5,640 a share with nearly 2.8 million shares traded.

The HNX-Index closed at an intraday high of 122.84, up 0.75% versus the previous day. Turnover on the Hanoi market was the same as Wednesday with 87.8 million shares worth nearly VND1.2 trillion changing hands.

Among bank stocks, SHB hit its upper limit of VND10,700 a share and took the lead by liquidity with over 27 million shares trsnsacted and ACB increased 0.5% at VND40,000 per share with volume of 4.9 million shares. Other blue chips such as property firm HUT and oil and gas stock PVS also made positive moves on the northern index.

Meanwhile, petroleum technical service firm PVS fell 2.1% at VND28,200 a share with volume of nearly 7.6 million shares and construction firm VCG lost 0.8% at VND23,600 per share. KLF, a trading and food service enterprise, and securities firm SHS closed unchanged with five million and 1.8 million shares traded respectively.

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