Tuesday,  Sep 25, 2018,09:55 (GMT+7) 0 0
Stocks up for ninth straight day
Phuong Thao
Friday,  Jan 5, 2018,23:05 (GMT+7)

Stocks up for ninth straight day

Phuong Thao

HCMC – The local stock market advanced for the ninth consecutive session on January 4, led by large caps and banking stocks. The VN-Index closed at the intraday high of 1,019.75, jumping a massive 14.08 points, or 1.4%, versus the previous day.

STB was the biggest gainer with its matching volume soaring to a nine-month high of nearly 26.5 million shares. According to tinnhanhchungkhoan.vn, the lender has seen its turnover improving strongly since December 22, 2017, when it announced a significant drop in bad debt ratio from 6.68% to 4.4%.

STB closed the day up 1.9% at VND13,600 per share. Except for EIB that plunged 6.2%, other bank stocks such as MBB, CTG, BID and VCB rose strongly with each reporting matching volume from around two million shares.

Trading volume on the HCMC market added 6.8% at 252.9 million shares while value lost a slight 2% at VND6.2 trillion.

Among large caps, retail group VRE was the only loser while leading gas firm GAS climbed 4.7% at VND102,000 per share and oil distributor PLX gained 4.5% at VND78,600 a share. VIC, a leading property enterprise, increased 0.6% at VND81,000 a share with 2.9 million shares exchanged and construction firm ROS gained 1.2% at VND164,000 a share.

Securities firm SSI saw strong domestic demand but it closed down 0.3% at VND30,100 a share because of foreign selling. SSI reported matching volume of over seven million shares, in which foreigners net sold over 2.1 million shares.

On the other hand, foreigners actively purchased shares of lender BID, resulting in a net buying volume of over 2.2 million BID shares.

Notably, speculative stocks also attracted cash flow. Property firm FLC saw 11.5 million shares changing hands, advancing 0.4% at VND6,830 per share, while the fellow realty enterprise HQC increased 3.4% at VND2,710 per share on volume of nine million shares.

The HNX-Index seesawed in a narrow range but it still closed in the positive territory, gaining 0.26% from the session earlier at 119.5. The Hanoi market saw 61.2 million shares worth VND988 billion changing hands, down 12.5% and 68% respectively.

Many large caps encountered high profit taking pressure. Lender SHB, the volume leader with over nine million shares exchanged, moved sideways while real estate company HUT lost 0.9% at VND11,000 a share on volume of 1.5 million shares.

In contrast, lender ACB inched up 0.3% at VND38,800 per share on matching volume of over 6.3 million shares. PVS, an oil and gas stock, advanced 1.2% at VND25,600 per share with more than 8.8 million shares traded.

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