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Bank, securities stocks buoy VN-Index

The Saigon Times

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HCMC – The VN-Index of the Hochiminh Stock Exchange managed to rally today, December 8, buoyed by the rising prices of bank and securities stocks.

The benchmark index added 6.10 points, or 0.42%, against the session earlier at 1,452.87, with 207 advancers and 222 decliners. Trade on the southern bourse remained the same as the previous session, at 771 million shares worth more than VND21.6 trillion. Shares traded in block deals accounted for around VND1.5 trillion.

Among bank stocks, only TCB closed at its reference price while the rest ended higher. TPB rose to its upper limit and saw 9.19 million shares traded. EIB advanced 4.3%. SSB and VIB edged over 2% higher. VPB was the most actively traded in this group, with a matching volume of 16.49 million shares, followed by STB with 15.75 million shares.

The performance of real estate stocks was good in general. QCR closed at its ceiling price of VND12,850. Other strong advancers were SJS (up over 6.5%), TDH  (up over 5.5%), ITA (up over 5.2%) and they were among the top stocks by liquidity on the HCMC bourse. Meanwhile, ROS was the biggest decliner, falling 5.06%, but led the HCMC market by liquidity with 55 million shares transacted.

Among the members of the FLC family, construction ROS had the worst performance, while GAB moved sideways, FLC gained 1.36%, and AMD and HAI increased over 3% each.

Only four securities stocks inched lower, while the remainder closed in positive territory.

Meanwhile, steel stocks entered a correction phase, with HPG, the big name in the industry, shedding 0.84%. HSG lost 1.66% and NKG slid 2.57%. Especially, after a winning streak, TNI fell to its floor price for six consecutive sessions. Yesterday, TNI reversed course to hit its upper limit but ended at its floor price today.

As for stocks in other fields, electricity company POW was actively traded with a matching volume of  41.63 million shares, up 1.7%. Farming group HAG also hit its upper limit.

On the Hanoi bourse, the HNX-Index improved 3.34 points, or 0.75%, against the previous session at 449.74, with 101 stocks rising and 121 others dropping. Trading volume and value on the Hanoi market improved 23% and 7.5% at 145 million shares and some VND3.5 trillion, respectively.

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