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Stocks rebound on low trade

Phuong Thao
Friday,  Apr 13,2018,15:00 (GMT+7)
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Stocks rebound on low trade

Phuong Thao

HCMC – Petroleum and realty stocks sent the VN-Index back to the positive territory on April 12 but market turnover sharply reduced given cautious sentiment.

Given 157 gainers and 131 losers, the main index closed the day at 1,173.02, rising 5.91 points, or 0.51%, versus the previous session. However, both trading volume and value slumped over 36% at 180 million shares worth VND5.9 trillion, suggesting that investors were cautious after the crash on Wednesday.

Oil and gas stocks recovered as global crude oil price surged over Syria’s political tension. GAS, PLX and NT2 advanced nicely while PVD hit the upper limit of VND19,950 a share.

On the other hand, banking stocks remained weak as six out of eight listed banks declined. VPB was the only gainer with a 0.5% rise at VND66,400 per share while CTG closed at the reference price.

STB was the volume leader with 10.1 million shares traded, followed by MBB with 7.9 million shares and CTG with 6.1 million shares. Other large caps saw active transaction with securities firm SSI, steelmaker HPG and sugar firm SBT reporting volume from one to six million shares each.

Notably, construction firm ROS tumbled for the fourth straight session, dipping 6.7% at VND100,000 a share. ROS saw matching volume of over 1.2 million shares.

Most speculative stocks lost ground, in which some property firms like HAG, FLC and SCR attracted huge cash flow. Furniture enterprise TTF and building materials firm KSH plunged to the floor prices at VND5,580 and VND2,040 a share respectively.

The HNX-Index climbed a hefty 1.89 points, or 1.41%, at 135.63 but trading volume and value on the Hanoi market shed 30.8% and 36.2% at 54.1 million shares worth nearly VND913 billion.

Similar to the southern exchange, oil and gas firms on the northern bourse performed strongly, in which PVS jumped 7.2% at VND22,400 per share. Among large caps, lender ACB added 2.3% at VND49,900 per share, industrial firm VCS increased 1.2% at VND121,500 per share and building material firm VCG advanced 1.4% at VND21,800 a share.

SHB led the market for liquidity with 13.7 million shares exchanged but the bank closed at the reference level, followed by petroleum technical service firm PVS with 7.1 million shares and lender ACB with 3.6 million shares.

Among losers, HVA, an agricultural firm, closed at the floor price of VND3,000 a share in the seventh consecutive losing session. Meanwhile, SJC, which is active in the construction sector, extended its falling streak to the eighth straight day to close at VND9,500 a share.

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