Wednesday,  Oct 24, 2018,04:11 (GMT+7) 0 0
Property stocks buoy VN-Index
Phuong Thao
Wednesday,  Jan 31, 2018,22:04 (GMT+7)

Property stocks buoy VN-Index

Phuong Thao

HCMC – Strong cash flow into a number of property and construction stocks sent the VN-Index back into positive territory on January 30 though the index lost over 17 points in the morning.

With decliners slightly outnumbering advancers by 153 to 148, the index of the HCMC bourse inched up a mere 0.07% versus the previous session at 1,100.56 points. Turnover on the HCMC market improved with 335 million shares worth VND9.3 trillion changing hands, including 47.9 million shares in block deals with a combined value of VND1.2 trillion.

Many real estate stocks went up to their ceiling prices, with SCR being the second most actively traded stock with more than 14 million shares traded. CTD, having traded below the reference line for much of the time, shot up to its upper limit within the last 30 minutes, closing at VND205,400 per share with matching volume of nearly 650,000 shares.

In the banking sector, VCB, MBB, CTG and HDG slightly corrected while BID and VPB rose strongly, gaining 4% and 1.5% against the previous day at VND36,000 and VND52,900 a share respectively. STB again took the lead by liquidity with over 30 million shares traded, advancing 2.1% at VND17,100 a share.

Among large caps, GAS, a leading oil and gas stock, added 0.5% at VND116,500 a share while insurer BVH jumped 5.5% at VND85,700 per share. VJC, a low-cost carrier, closed at an intraday high of VND195,000 a share while retail group VRE increased slightly.

Notably, FPT made a nice rally for announcing positive earnings results in 2017. The technology firm increased 6.1% at VND64,000 per share with over 4.7 million shares changing hands.

The HNX-Index of the Hanoi bourse moved flat, inching up 0.01% at 127.36. Turnover on the Hanoi market remained high with 77.6 million shares worth VND1.3 trillion traded, including block deals valued at VND31.3 billion.

Property and construction stocks gained strongly, with CEO hitting its ceiling price of VND11,300 a share with matching volume of over 1.6 million shares. VCG closed near the upper limit of VND26,600 a share and HUT climbed 3.7% at VND11,100 a share.

Among bank stocks, ACB lost 1% at VND41,600 per share with over 3.9 million shares traded. SHB, the volume leader with 22.2 million shares changing hands, advanced 2.3% at VND13,600 per share.

According to securities enterprises, the VN-Index would soar to a new high of 1,170 points in the near term as the macro economy has seen positive signs. Besides, many listed enterprises have announced good business results in the last quarter of 2017.

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