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Monday,  May 21,2018,06:18 (GMT+7)

Stocks rally as HOSE back to normal after glitch

Phuong Thao
Friday,  Jan 26,2018,22:50 (GMT+7)
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Stocks rally as HOSE back to normal after glitch

Phuong Thao

HCMC – Stocks soared on January 25 as the Hochiminh Stock Exchange (HOSE) resumed operation after a two-day interruption caused by a technical glitch.

The VN-Index surpassed the psychological level of 1,100 points amid high turnover. At the close of the session, it jumped 17.15 points, or 1.58%, versus Monday at 1,104.57. There were 510.2 million shares worth VND14.2 trillion changing hands, including VND2.1 trillion in block deals.

Among the oil and gas stocks, GAS and PVD edged up to their respective ceiling prices of VND113,300 and VND29,600 a share with matching volume of 1.1 million shares and 8.8 million shares. Low-cost carrier VJC hit the upper limit of VND199,500 per share but with modest volume of 530,000 shares.

Lender STB again took the lead by liquidity with 48.5 million shares traded while other banks reported trading volume of 10 to 17 million shares each. Meanwhile, some large-cap stocks such as dairy giant VNM, retail group VRE, steelmaker HPG and brewery firm SAB saw high turnover but they declined sharply as they came under profit taking pressure.

A number of speculative stocks closed at their ceiling prices. Property firm HAG reached VND8,490 a share with 21.5 million shares traded. In contrast, agricultural firm HAI and oil and gas firm PXS plunged to the floor prices of VND6,330 and VND9,490 per share with volume of 11.7 million shares and 2.2 million shares respectively.

The HNX-Index added 0.29% at 126.62 points although there were 115 stocks losing and 50 others gaining. Trading value on the Hanoi exchange hit nearly VND1.7 trillion, up almost 70% against the previous session, while volume climbed 40% at more than 100 million shares.

Like the HCMC exchange, most petroleum stocks performed well on the Hanoi bourse on January 25. PVS rose 1.3% at VND31,400 a share, ranking second by liquidity with 10.4 million shares changing hands. In contrast, PVX lost 3.8% at VND2,500 per share with 6.3 million shares transacted.

Except for NVB, all lenders on the northern bourse closed the day in positive territory. SHB was the most actively traded stock with 24.9 million shares traded, gaining 2.5% at VND12,200 a share, while ACB added 1.7% at VND41,800 per share with volume of 8.4 million shares.

Foreign investors remained net buyers on the HCMC bourse with a net buying value of VND765 billion. Meanwhile, they net sold over VND18 billion of shares on the Hanoi exchange.

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