HCMC – FiinRatings has upgraded Coteccons Construction JSC’s (HOSE: CTD) long-term credit rating from BBB to BBB+ with a “stable” outlook.
Coteccons is the only construction company to receive a BBB+ rating in its category. The upgrade follows three years of organizational restructuring and stabilization efforts by Coteccons.
FiinRatings points to “The company’s ability to maintain its market leadership despite challenges in the high-risk construction sector and difficult macroeconomic conditions”, noting that the firm’s growth is reflected in its rising revenue and contract value, along with improvements in profit margins and operational performance.
Wrapping up the trading session today, October 17, CTD inched down by 0.16% to VND63,100 per share, with a matching volume of 421,600 shares.
The Hochiminh Stock Exchange (HOSE) saw 224 winners and 128 losers, and the VN-Index inching up by 7.04 points, or 0.55%, to 1,286.52 points.
Trading volume and value improved 27% and 18% over the previous session, respectively, with 685.2 million shares worth VND15.7 trillion changing hands. Block deals accounted for over 67.4 million shares worth a total of VND1.7 trillion.
Bank stocks remained stable, contributing significantly to market sentiment. Notably, MSB saw the highest rise, at 3.94% to VND13,200, with nearly 23.9 million shares traded.
Other notable gainers included STB, which gained 3% to VND34,600, and TPB, jumping 2.3% to VND17,900. Other stocks in the sector such as VIB, LPB, ACB and MBB advanced between 1% and nearly 2%.
They also posted high trading volume, with STB seeing 27.2 million shares transacted, VPB 22.7 million shares, and TPB 22.4 million shares.
In the real estate sector, small and mid-cap stocks rose, with DXG, PDR and NHA hitting the ceiling prices. DXG took the lead by liquidity on the southern market, with 27.9 million shares changing hands.
On the Hanoi Stock Exchange, the HNX-Index added 1.86 points, or 0.81%, closing at 230.12 points. The northern exchange recorded 87 advancers and 60 decliners, with total trading volume exceeding 50 million shares valued at nearly VND963 billion.
