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Real estate, construction stocks keep market from falling

The Saigon Times

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HCMC – The VN-Index of the Hochiminh Stock Exchange rose a fractional 0.08% today, December 16, mainly driven by real estate and construction stocks.

The benchmark index added 1.11 points to close at 1,476.61 points, although losing stocks outnumbered winning ones by 243 to 209.

There were 926.8 million shares worth more than VND26.95 trillion changing hands on the southern bourse, increasing 2.3% in volume and 4% in value against the previous session. Some 37.2 million shares worth over VND1.8 trillion were traded in block deals.

Among bluechips, lender VPB was the worst performer as it fell 2.7% to VND33,700, followed by jewelry firm PNJ, which fell 2.4% to VND93,700.

In contrast, electricity firm POW shot up to the ceiling price at VND17,200. POW also led the market in terms of liquidity with 41.62 million shares changing hands.

Other major contributors also included real estate company PDR, which soared 3.9% to VND97,700. Besides, GAS, STB, CTG, PLX, KDH, GVR and VNM rose approximately 0.5%.

In the group of small and speculative stocks, many hit their upper limits such as ROS, FLC, HAG, LDG, DLG, TTF, HHS, LCM, QCG and FTM. ROS and FLC were among the most actively traded stocks, with over 35 million shares changing hands each.

Real estate and construction stocks stole the limelight, with DIG, VGC, AGG, CII, VNE, CEE, ITA, FLC, PTL and some others hitting the upper limit.

Meanwhile, bank, steel and securities stocks performed poorly.

Among bank stocks, MSB was the biggest gainer as it added 2.58%. CTG, VIB, OCB and STB rose approximately 0.5%, while other lenders such as VCB, TCB, VPB, ACB, MBB, HDB, SSB and TPB lost ground.

Most steel and securities stocks dipped into the red. Securities companies HCM, SSI, VND and VCI lost 1.5-2.5%, while steelmakers HPG and HSG fell 0.5-1%.

On the Hanoi Stock Exchange, the HNX-Index rose 0.73%, or 3.32 points, to end at 457.03 points. Winning stocks outnumbered losing ones by 123 to 111. There were some 115.6 million shares worth more than VND3.2 trillion transacted.

The major contributors were industrial development firm IDC and stone processor VCS, which soared 3.9% to VND87,300 and 1.3% to VND115,900, respectively.

The biggest gainers also included LHC, L14 and TAR, which surged 4-8.7%.

Development and investment company DXP suffered the steepest decline in the HNX30 as it dropped 3.4% to close at VND22,700. Besides, securities firm MBS and construction firm VC3 both lost 2.3%.

Trading and service firm KLF shot up to the ceiling price at VND8,900 and took the lead in terms of liquidity on the northern bourse with more than 12.2 million shares changing hands.

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