Sunday,  Sep 23, 2018,06:19 (GMT+7) 0 0
Stocks extend rally
Phuong Thao
Tuesday,  Nov 28, 2017,23:08 (GMT+7)

Stocks extend rally

Phuong Thao

HCMC – Many stocks went up to their ceiling prices on November 27 but sell orders surged at the VN-Index resistance level of 940 points.

The VN-Index of the Hochiminh Stock Exchange still managed to advance a slight 3.04 points, or 0.32%, versus last Friday at 938.61, marking the sixth straight session of gains. Trading volume on the HCMC market increased 11.8% at 252.3 million shares but value dropped 8.2% at VND5.9 trillion as cash flow ran into small stocks.

Beverage stocks SAB and BHN were key drags as they lost 4.9% and 3.8% at VND303,000 and VND134,500 per share respectively. Other blue chips including lender VPB, low-cost carrier VJC and electronic store chain operator MWG also plummeted over profit taking in the afternoon phase.

Among 10 leading stocks by market capitalization, BID fell a slight 0.4% at VND25,200 per share while dairy giant VNM and bank stock CTG closed at the reference prices. Having soared to VND79,500 a share, property firm VIC closed with a 2% rise at VND76,000 share whereas MSN, a consumer goods producer, was the biggest gainer in this group as it jumped 5.7% at VND68,000 a share.

Notably, many speculative stocks went up to the ceiling prices. Financial group OGC closed at the upper limit of VND2,380 per share with matching volume of 6.6 million shares and ITA, an industrial zone developer, shot up to VND3,540 a share with 5.3 million shares traded.

FLC, a property firm, was the most liquid stock on the southern bourse with 23.2 million shares changing hands. It failed to close at the upper limit but climbed 4.8% at VND7,110 per share.

The Hanoi market came under selling pressure but its stock index still gained 1.08% at 112.03 points, with trading volume and value surging 37.1% and 28.3% against the previous session at 86.9 million shares worth VND1 trillion.

Among the top 10 heavyweights, only port operator PHP and infrastructure firm DL1 lost 1.6% and 5% at VND12,100 and VND38,000 a share. Lender SHB was the best performer in this group, climbing 6% at VND8,800 a share and taking the lead by liquidity with 30.6 million shares changing hands.

For speculative stocks, KLF, which operates in the trading and food service sector, shot up to the ceiling price of VND3,800 a share with matching volume of nine million shares. Petroleum technical service firm PVS reported volume of nearly 7.5 million shares while securities firm SHS surged 9.3% at VND19,900 a share with 4.5 million shares traded.

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