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Tuesday, June 25, 2024

Local stocks enter correction phase

The Saigon Times

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HCMC – The benchmark VN-Index of the HCMC market tumbled with low liquidity today, October 13, ending its seven-session winning streak.

The main index shed 2.89 points, or 0.21% against the previous session to 1,391.91, with 195 stocks rising, 208 stocks falling, and 60 others moving sideways. Turnover on the southern bourse contracted 13% in volume and 15% in value over the session earlier at more than 645 million shares and over VND18.7 trillion, including some VND1.2 trillion worth of shares transacted in put-through deals.

In the group of bank stocks, SSB was the biggest advancer with a 3.2% increase. Aside from SSB, only four other lenders made gains by around 0.5%. Meanwhile, among falling bank stocks, the three biggest decliners MSB, TCB, and STB lost over 1% only.

SHB, a new member on the HCMC market, took the lead in liquidity with 25.5 million shares traded but it ended 0.7% lower.

The group of securities stocks saw only TVB and APG rise slightly, while the rest closed in the red. Similarly, only three steelmakers were winners, while all of the fuel stocks declined, with PLX shedding over 2% and GAS losing nearly 1%.

Meanwhile, real estate stocks attracted cash flow, except for VHM and NVL. Stocks hitting their upper limits included VRC, HAR, LDG, and NBB, with LDG reporting a matching volume of around 18 million shares. FLC was the most actively traded in the group, with 20.9 million shares traded, but closed 2.8% lower. Other big advancers were ITC, VPH, LHG, and SCR, up over 4% each.

On the northern bourse, the HNX-Index extended gains. It expanded 0.97%, or 3.66 points to close at 379.34, with 110 advancers and 100 decliners.

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