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Stock market maintains growth momentum
The Saigon Times
Friday,  Aug 28, 2020,18:21 (GMT+7)

Stock market maintains growth momentum

The Saigon Times

A statue of a bull and a bear outside the Hochiminh Stock Exchange in District 1, HCMC. The VN-Index gained 0.49% at 878.98 points today, August 28 – PHOTO: THANH HOA

HCMC – Upbeat investor sentiment, coupled with strong demand for bluechips, drove the VN-Index of the Hochiminh Stock Exchange up to 878.98 points today, August 28.

At the close, the main index advanced 4.27 points, or 0.49%, against the session earlier, with 225 winners and 180 losers. Some 398.3 million shares worth VND7.6 trillion changed hands, soaring by 26.2% in volume and 23.2% in value from the day earlier. Block deals contributed VND1.6 trillion to the total value.

Bluechip stocks were key drivers of the southern bourse, and in the VN30 basket, 18 stocks gained ground while eight others underperformed.

Dairy giant VNM closed the day up 1.8%, while gas firm GAS and lenders BID and TCB made strong gains.

The strong profit-taking pressure left some large-cap stocks such as brewer SAB, lender VCB and petroleum PLX ending in the red.

Industrial zone developer ITA was the most actively traded stock on the southern exchange with 13.5 million shares traded, while many other small and medium stocks lost steam.

Oil and petroleum firm PET shot up to the ceiling price after PET Chairman Phung Tuan Ha had registered to buy three million PET shares.

With 103 rising stocks and 67 others falling, the HNX-Index of the Hanoi Stock Exchange gained 1.03 points, or 0.83%, at 124.92.

Bank stock SHB was the volume leader with some 7.2 million shares changing hands and ended the day up 2.9%, while lender ACB ranked second with a matching volume of 6.9 million shares.

Other supporters of the northern bourse were plastic firm NTP, forestry corporation VIF and service company THD.

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