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Sunday,  May 27,2018,12:38 (GMT+7)

Financials drive VN-Index up

Phuong Thao
Wednesday,  Apr 18,2018,20:09 (GMT+7)
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Financials drive VN-Index up

Phuong Thao

HCMC – The domestic stock market staged a mild rebound on April 17, led by some stocks in the banking and real estate sectors. The VN-Index gained 4.79 points, or 0.42%, against the previous session at 1,153.28.

Market breadth improved as the number of rising stocks was higher than that of losers by 161 to 117. However, turnover on the HCMC market sharply contracted as investors grew cautious, with trading volume and value shedding 10% and 31% at 175.7 million shares and VND5.4 trillion.

The performance of heavyweights was mixed with VNM, SAB and MSN dropping. VIC and GAS made gains. Notably, large banks in this group like CTG, VPB, VCB and BID rose strongly on high turnover.

Other bank stocks followed suit as STB, MBB and EIB added 1.9%, 2.7% and 4.6% respectively. HDB was the only loser in the sector, dipping 0.4% at VND50,800 per share with matching volume of 1.6 million shares.

Many property stocks also advanced due to high cash flow. DXG made the biggest rise of 5.5% at VND36,300 a share, followed with PDR with a 3.8% gain, KBC with 4.3% and LDG with 3.5%.

The VN30 basket saw 15 stocks rising and 14 others closing down. SBT, a leading sugar firm, was the most actively traded stock with 7.6 million shares traded, jumping 3.6% at VND18,650 a share.

For the biggest losers, steelmaker HPG lost 0.7% at VND59,700 per share with 3.3 million shares changing hands. BMP, a plastic enterprise, fell 3.2% at VND66,400 although a Thai investor holds a controlling stake in the enterprise, and leading oil distributor PLX dropped 3.5% at VND74,000 a share.

The HNX-Index climbed 0.94 point, or 0.7%, at 134.25, buoyed by heavyweights SHB, ACB and VCG. However, trading volume and value slid 12% and 22% versus the previous day at more than 46 million shares worth VND725.5 billion.

Lender ACB made the most positive move as it advanced 1.9% at VND49,500 per share with 3.1 million shares traded. Its fellow bank SHB was the most actively traded stock with 12 million shares traded, gaining a slight 0.8% at VND13,300 a share.

Foreign investors remained active on the selling side as they net sold nearly VND286 billion worth of shares on the southern market. Meanwhile, they net bought over VND21 billion of shares on the northern exchange.

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