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VN-Index inches up for fourth day
By Phuong Thao
Wednesday,  Sep 12, 2018,18:52 (GMT+7)

VN-Index inches up for fourth day

By Phuong Thao

Staff of HCMC Securities Corporation handle stock trading orders. Vietnamese stocks rose for a fourth straight session today, September 12 - PHOTO: THANH HOA

HCMC – Stocks briefly surged today, September 12, before a late selloff sent the VN-Index of the Hochiminh Stock Exchange down to near the reference level at the close.

The main index inched up a slight 1.95 points, or 0.2%, against the previous session at 987.01, extending its winning streak for the fourth consecutive day. Trading volume and value on the southern market slid 5% and 6% to over 184 million shares and VND4.1 trillion, respectively.

GAS was the key factor to keep the main index afloat as the leading gas group jumped 5.3% at VND109,000 a share with matching volume of 1.2 million shares. Other oil and gas firms performed well, with fuel distributor PLX going up 1.4% at VND71,000 per share and drilling firm PVD gaining 4.6% at VND15,900 a share with over 7.7 million shares traded.

Meanwhile, other large caps saw their gains sharply down during the selloff. Having advanced strongly, property firm VIC and its associated firm VHM closed up 0.2% and 0.3% at VND101,400 and VND104,000 per share, respectively, whereas dairy enterprise VNM rose 0.3% at VND132,400 a share.

Notably, the banking sector came under strong selling pressure as up to eight banks declined. STB was the only gainer in the sector for adding 2.5% at VND12,100 a share and led the southern bourse by liquidity with 13.2 million shares traded.

The HNX-Index of the Hanoi Stock Exchange gained 0.22 point, or 0.2%, at 111.65, though many large caps on the bourse lost ground.

Like the southern exchange, oil and gas stocks contributed the most to the uptrend, with PVS and PVB climbing 4.2% and 9.5% at VND22,500 and VND18,400 a share, respectively. PVS was the most actively traded stock with 12.4 million shares exchanged, followed by lender SHB with over 6.5 million shares.

In contrast, lender ACB fell 0.3% at VND32,900 a share and leading building material company VGC dropped 0.5% at VND18,300 per share. SRA, a computer and building material firm, plunged to the floor price for the fifth straight session and stood at VND45,800 per share.

Foreign investors remained on the buying side but cut transactions compared to the previous day. They net bought 3.4 million shares valued at VND174.3 billion on the HCMC bourse, down 55.9% and 64.3% versus Tuesday, respectively.

On the Hanoi exchange, foreign investors net purchased VND14 billion worth of shares compared to a net selling value of VND14.3 billion on Tuesday. They chiefly bought shares of oil and gas firm PVC and printing company INN.

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