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VN-Index advances for second day
By Phuong Thao
Wednesday,  Oct 17, 2018,18:53 (GMT+7)

VN-Index advances for second day

By Phuong Thao

HCMC – The local stock market rose for the second straight session today, October 17, going in tandem with robust growth of global stock exchanges, but poor cash flow still prevented the VN-Index of the Hochiminh Stock Exchange from soaring.

Stocks opened the day up following overnight gains of Europe and U.S. stock indexes, sending the main index up to 975 points in the first half of the morning phase. However, the index dropped back to 970 points and moved flat in the afternoon as investors were concerned about the huge volume of shares sold at the market crash last Thursday.

The VN-Index closed up 8.23 points, or 0.85%, at 971.6, with advancers outnumbering decliners by 195 to 93. Market trading value was equivalent to Tuesday’s, at VND3.8 trillion, and stayed below VND4 trillion for the third consecutive session.

Among the top 10 heavyweights, lender BID was the largest contributor as it climbed nearly 3.3% at VND34,600, followed by consumer goods MSN with a 3% rise and housing developer VHM that added 2.4%. VCB, another bank stock, was the only one in this group moving sideways.

On the negative side, construction firm ROS fell 3.7% at VND38,500. Lender STB, the volume leader on the southern exchange with 8.9 million shares traded, slid 0.37% at VND13,550 while its fellow bank MBB lost a slight 0.4% at VND21,650.

Notably, furniture maker TTF hit the upper limit for the fourth straight day, closing at VND5,510 with matching volume of over 1.1 million shares. Earlier, TTF had announced a scheme to issue 100 million shares to merge with a competent unit in the same industry.

Property firm HAR also went up to the ceiling price of VND5,480 with over 1.3 million shares changing hands. YEG, an entertainment enterprise, closed at the upper limit of VND268,600 but it reported poor matching volume of over 15,000 shares.

The HNX-Index of the Hanoi Stock Exchange added 0.79 point, or 0.73%, at 109.39. There were 43.5 million shares worth VND555 billion changing hands at the end of the day, up 5.4% and 3% versus Tuesday, respectively.

Among bank stocks, SHB jumped 1.2% to close at the intraday high of VND8,300 while taking the lead by liquidity of 5.3 million shares traded. Meanwhile, ACB increased 0.6% at VND31,500 with volume of nearly 2.3 million shares.

Having hit the trading ceiling in the previous day, property group HUT gained 3.4% at VND6,000. The enterprise saw matching volume of around 4.7 million shares.

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