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VN-Index soars to 10-year high
Phuong Thao
Friday,  Nov 17, 2017,13:55 (GMT+7)

VN-Index soars to 10-year high

Phuong Thao

HCMC – Many blue chips on the HCMC market attracted huge cash flow yesterday, sending the VN-Index up to a 10-year high.

Closing the session, the VN-Index surged 10.21 points, or 1.16%, against the previous day at 892.8. Trading volume and value on the southern bourse increased 3.2% and 10% at 206.5 million shares and over VND7.3 trillion respectively.

The VN30 basket saw up to 16 stocks reporting matching volume of more than one million shares each. Lender STB was the most actively traded stock with 7.8 million shares changing hands, followed by MBB, also a bank stock, with 5.2 million shares.

For the put-through market, VNM share deals totaling VND1.8 trillion were done. Meanwhile, VIC, a leading property firm, reported block deals of VND420.5 billion.

Among the large caps, retail firm VRE slid for the second straight session with matching volume of 5.5 million shares. Construction firm CTD fell 1.6% from the day earlier at VND234,000 a share.

Speculative stocks also lured cash flow, with property firms FLC and HQC reporting respective volume of 7.2 million shares and 5.9 million shares. Financial group OGC and mining stock AMD went up to their ceiling prices with 5.8 million shares and 1.5 million shares traded respectively.

On the Hanoi market, the HNX-Index gained 0.75% at 108.29 points with trading volume and value soaring 39.6% and 57.5% at 56.8 million shares and VND814 billion. There were 18 stocks closing at ceiling prices, mostly small caps like industrial firm BII and retail stock DPS.

The oil and gas sector contributed most to the index increase. PVS took the lead by volume with around seven million shares transacted, adding 2.5% at VND16,400 a share.

Among the finance stocks, ACB and SHS advanced with matching volume of 4.2 million shares and two million shares respectively. KLF, a trading and food service firm, rose 2.9% at VND3,500 a share with 5.4 million shares traded.

Bao Viet Securities Company said the market might rise further today as turnover has turned strong. The market rose for the 10th consecutive session yesterday as cash flow ran into medium and small stocks, not just large caps like in previous sessions.

BIDV Securities Company predicted the main index would reach new highs and the nearest level would be 890 points. However, investors should stay cautious and wait for more clues before making buy decisions.

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