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Thursday, July 18, 2024

Stock market bounces back

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HCMC – Investor risk appetite boosted the local stock market, enabling the main VN-Index of the Hochiminh Stock Exchange to expand sharply on February 2.

With 331 stocks rising and 130 others declining, the benchmark index added as much as 40.02 points, or 3.86% against the previous session at 1,075.53. Trading volume and value on the southern bourse dipped 5% and nearly 4%, respectively to some 602 million shares and over VND13 trillion, including nearly VND1.5 trillion worth of 47.7 million shares traded in block deals.

Notably, the VN30-Index recorded a record winning trading session, as it surged some 50 points to reach nearly 1,080, surpassing the VN-Index.

The most outstanding bluechips in the VN30 basket were realty firm VIC and its affiliate VHM, lender VPB and sugar maker SBT, which all expanded 6.8-7% to hit their upper limits.

Other strong gainers included refrigeration electrical engineering firm REE, retailer VRE, and two lenders STB and MBB. They soared by 6.1-6.8%.

In addition, HDB, TCB, HPG, VCB, and CTG increased 4.5-5.9%. Among them, steelmaker HPG was the most actively traded stock on the southern bourse, with over 28.5 million shares.

Among speculative stocks, many reversed course to hit their ceiling prices such as FLC, KBC, DXG, PC1, SJF, TTB. Property developer FLC ranked second by liquidity on the HCMC market, with a matching volume of over 26.8 million shares.

Meanwhile, ITA, TTF, ASM, TGG, LSS, PXS, and MHC continued to close at their floor prices, bucking the market upward trend.

On the northern bourse, the HNX-Index added 6.51 points, or 3.12% versus the session earlier at 215.36, with 93 winners and 49 losers.

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