Thursday,  Sep 20, 2018,07:37 (GMT+7) 0 0
Foreign buying sends stocks up
Phuong Thao
Tuesday,  Apr 10, 2018,22:46 (GMT+7)

Foreign buying sends stocks up

Phuong Thao

HCMC – The local stock market reached a new record high on April 9 as foreign investors were active on the buying side, sending the VN-Index up 4.37 points, or 0.36%, versus the previous session at 1,204.33.

Trading volume on the HCMC market was similar to last Friday’s level at 251.4 million shares while value increased 8.6% at VND8 trillion, including more than VND1 trillion worth of block deals.

Banking stocks gained ground thanks to strong demand from foreigners, except for EIB that fell 1% at VND14,800 per share. Notably, HDB jumped 4.8% at the intraday high of VND48,700 a share, with foreigners net buying 2.46 million shares of the lender.

CTG was the top contributor to the gain, climbing 5.6% at VND37,700 per share. It hit a record high after extending a 100% surge over the last six months amid investor expectations of strong business results in the first quarter of 2018.

STB led the market for liquidity with 14.7 million shares changing hands. The bank added 1.8% at VND16,400 per share as foreigners net bought nearly 1.6 million shares valued at VND26 billion.

Some securities stocks also rose strongly. SSI increased 5.7% at VND44,300 per share on volume of 9.1 million shares, in which foreigners net purchased 2.6 million shares worth VND112 billion. Meanwhile, VND advanced 4.4% at VND34,000 a share with 2.4 million shares.

Other blue chips such as retail group VRE, dairy firm VNM and steelmakers HPG and HSG also reported high foreign demand, taking to VND288 billion the total foreign net buying value on the southern bourse.

Among key losers, ROS, a construction enterprise, plunged to the floor price of VND122,800 per share on matching volume of 1.6 million shares. Property firm NVL saw high selling pressure, losing 4.4% at VND73,100 per share while leading jewelry maker PNJ tumbled 4.6% at VND185,000 a share.

The HNX-Index dropped 0.17% at 137.79 as losers slightly outnumbering gainers by 91 to 84. Trading volume and value on the Hanoi market improved 4.6% and 5.5% at 72.6 million shares worth VND1.2 trillion, including modest block deals worth VND71.3 billion.

Property firm CEO was the biggest gainer for adding 3.2% at VND16,000 per share, followed by lender ACB with a 0.4% rise at VND51,100 a share. In contrast, building materials producer VCG tumbled 4% at VND23,500 per share on volume of 2.9 million shares.

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