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Tuesday, July 23, 2024

HSG shares ineligible for margin trading

The Saigon Times

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HCMC – The Hochiminh Stock Exchange, or HOSE, has included HSG shares of local steelmaker Hoa Sen Group in the list of stocks ineligible for margin trading.

The ban resulted from the firm’s net losses in the first half of the fiscal year 2022-23, HOSE said.

Hoa Sen’s revenue plunged by a staggering 49.7% to VND14.9 trillion, according to its reviewed consolidated semi-annual financial statements for FY2022-2023.

It posted VND424.2 billion in net losses, compared to a profit of VND873 billion in the year-ago period.

Meanwhile, the steelmaker’s gross profit plummeted 69.2% year-on-year.

In this fiscal year, Hoa Sen developed two business plans. In its first plan, the company looks to produce 1.4 million tons of products and obtain VND34 trillion in revenue and VND100 billion in profit, down 32% and 60% year-on-year.

In its second plan, the firm aims to make 1.5 million tons of products, reduce its revenue by 28% year-on-year to VND36 trillion, and increase its profit by 20% to VND300 billion.

HSG closed the trading session today, May 31, down 2.84% from Tuesday to VND15,400 per share. It was the second most traded stock on the exchange with a matching volume of 36.2 million shares.

The benchmark VN-Index of the HOSE slid 2.88 points, or 0.27% day-on-day, to 1,075.17 points, with 225 winners and 167 losers.

Compared to the previous session, volume remained unchanged at 924.4 million shares, but value inched down to VND15.8 trillion. Block deals contributed VND1.7 billion to the overall value with 62.6 million shares traded.

Securities brokerage VND took the lead by liquidity today, with over 38 million shares traded.

Real estate, construction, and mid- and small-cap stocks continued to attract cash flow. Developers NVL and DIG finished the day up 1.1% to VND13,500 and 1.9% to VND21,350 with more than 36.2 million shares and 21.7 million shares changing hands, respectively.

TDH, EVG, VRC, LGL, and QGL shot up to their daily upper limits. TDH has risen to its ceiling price for six consecutive sessions, QGL for four consecutive sessions, and others for three consecutive sessions.

On the northern market, the HNX-Index of the Hanoi Stock Exchange extended its winning streak to six straight sessions with a gain of 1.48 points, or 0.67%, to 222.81 points, with 130 advancers and 61 decliners.

There were over 130.4 million shares worth nearly VND1.9 trillion changing hands on the northern bourse.

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