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Bank stocks keep market afloat
Phuong Thao
Thursday,  Dec 28, 2017,23:20 (GMT+7)

Bank stocks keep market afloat

Phuong Thao

HCMC – Selling pressure built up on December 27 as the VN-Index rose to its previous peak of 970 points but a number of bank stocks stayed strong, propping up the market.

The Hochiminh Stock Exchange (HOSE) index extended its winning streak for a fourth straight session, gaining a slight 2.53 points, or 0.26%, from the day earlier at 968.46 points. Turnover on the HCMC bourse remained strong as volume and value increased 26.8% and 12.4% to 235.8 million shares and VND5.9 trillion, including 58 million shares worth nearly VND1.6 trillion traded in the put-through market.

For bank stocks, VCB added 2.1% at VND52,500 per share. STB took the lead by volume with more than 18 million shares traded, followed by MBB with over seven million shares changing hands.

Some large-cap stocks made positive moves, with dairy giant VNM adding 1% at VND205,000 per share, gas group GAS gaining 1.3% at VND98,800 a share and steelmaker HPG jumping 3.4% at VND45,400. In contrast, beverage firm SAB kept sliding 1.87% at VND252,200.

Most stocks in the real estate sector such as HQC, OGC and ITA slipped. FLC was the second most actively traded stock with 14.2 million shares traded, inching up a mere 0.14% at VND6,960 per share.

On the Hanoi market, lender ACB drove the HNX-Index up 1.33% at 115.58. There were 56.4 million shares worth VND971.7 billion changing hands, up 3% and 10% against the previous session respectively.

Thanks to the high demand, ACB leapt 5.2% to close at VND36,500 a share with matching volume of 6.6 million shares. Another bank, SHB, took the lead by liquidity with 9.7 million shares transacted, advancing 1.1% at VND9,200 per share.

For property stocks, VCG increased 2.8% at VND21,400 a share and HUT advanced 0.9% at VND10,800. Meanwhile, oil and gas stocks came under profit taking pressure with PVC, PVS and PVB closing down.

Foreign investors net bought nearly VND458.8 billion of shares on the HCMC market. They focused on shares of steelmaker HPG with a net buying value of VND81.1 billion, followed by VIC with VND72.9 billion and VCB with VND27.8 billion.

On the northern exchange, they net purchased VND6.4 billion of SHB shares and VND5.1 billion of VGC shares while net selling VND1.38 billion of shares of plastic firm NTP, resulting in a net buying value of VND12.4 billion.

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