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Bank stocks prop up main index
The Saigon Times
Friday,  Apr 23, 2021,19:19 (GMT+7)

Bank stocks prop up main index

The Saigon Times

An employee monitors stock prices on a computer screen at Hochiminh City Securities Corporation. The benchmark VN-Index of the Hochiminh Stock Exchange gained over 20 points and skirted the 1,250-point level today, April 23 - PHOTO: THANH HOA

HCMC – The uptrend of bluechip stocks, especially those in the banking group, helped the benchmark VN-Index of the Hochiminh Stock Exchange to gain over 20 points and nearly approach the 1,250-point level today, April 23.

The cash flow into the local market turned stronger in the afternoon phase as investors’ sentiment was significantly improved.

Closing the session, with 305 stocks advancing and 115 others falling, the main index added 20.71 points, or 1.69% against the previous session at 1,248.53. Turnover on the southern bourse contracted nearly 7% in volume and 2.7% in value over the session earlier at over 716 million shares and some VND20 trillion.

Among well-performing bank stocks, STB and LPB both soared 6.9% and were among the five most actively traded stocks on the southern bourse, with nearly 45.23 million shares and 21.14 million shares transacted, respectively.

Lender CTG surged 6.5% to nearly hit its upper limit. Its fellows BID, ACB, MBB, TCB, and TPB expanded 2-3.8%.

Aside from STB, the VN30 basket also saw housing developer KDH soaring 7% to reach its ceiling price and report a matching volume of 7.51 million shares.

Securities stocks also ended in positive territory with SSI, HCM BSI, and VIX rising 2.5-7%. Many other bluechips made strong rebound and buoyed the main index’s gain such as steelmaker HPG adding 2.5%, tech giant FPT increasing 3.8%, VHM, VNM, BVH, and VRE improving 1.5-2%.

Meanwhile, real estate developer NVL, low-cost carrier VJC, and property developer VIC were losers in the basket, dipping around 0.5%.

Regarding speculative stocks, many of them were good performers such as FLC, AMD, HAI, HQC, HNG, TTF, and LDG.

On the northern bourse, strong selling pressure hit bluechips and sent the HNX-Index down. As a result, the index shed 9.44 points, or 3.18% versus the previous session at 287.04, with 136 winners and 82 losers.

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