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Thursday, June 13, 2024

Property, construction stocks push market up

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HCMC – Real estate and construction stocks enjoyed strong rises on the HCMC Stock Exchange today, September 14, and sent the VN-Index up 5.6 points, or 0.63%, at 894.57 points.

Market trade kept improving, with volume and value expanding 17.59% and 15.63% at more than 364.43 million shares worth VND6.38 trillion, respectively.

Among construction stocks, steel firm HSG closed the day at its ceiling price of VND12,700, the highest over the past 1.5 years, and was the best performer by liquidity in the southern bourse with 25.8 million shares changing hands.

Other building material stocks, such as TNI and TLH, also increased to their ceiling prices. In addition, NKG jumped 3.27% at VND7,900; and POM added 3.9% at VND5,300.

As for real estate stocks, both SCR and ASM picked up 6.9% to their ceiling prices of VND6,180 and VND7,170, respectively.

Especially, giant VIC significantly supported the market’s rise as it gained 2.2% at VND93,100.

In the VN30 basket, 21 stocks gained while only six others dropped. However, most large stocks, such as lenders BID, VCB and TCB and housing developer VHM reported a modest increase of some 0.5% each.

On the Hanoi Stock Exchange, the HNX-Index rose 1.23 points, or 0.97%, at 127.43. Some 55.26 million shares worth VND606.45 billion were traded on the bourse.

Stocks that helped push the index up included lender ACB, industrial firm VCS and electricity generator IDC with an increase from 1.5% to 5.2% in stock prices.


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