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Wednesday, July 24, 2024

Stock market bounces back

The Saigon Times

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HCMC – As the active cash flow was channeled into largecap stocks at the close, the benchmark VN-Index of the Hochiminh Stock Exchange managed to expand today, August 19.

With 218 advancers and 161 decliners, the main index added 13.91 points, or 1.02% compared to the session earlier at 1,374.85. Turnover on the southern bourse improved nearly 6% in volume and 5% in value against the previous session at more than 728 million shares and around VND25.5 trillion. Of the total value, shares transacted in block deals accounted for over VND3.5 trillion.

Property firm VIC stole the limelight in this session, as it soared over 6.2% to close at its intraday high and contributed nearly six points to the main index. Lender VCB, another bluechip, also improved 1.8% to VND102,800, contributing nearly 1.8 points to the index.

Other contributors to the index’s growth included such bluechips as brokerage SSI rising 4.2%, rubber group GVR up 3.3%, property developer NVL jumping 1.8%, low-cost carrier VJC rising 1.7%, in addition to SAB, MSN, HDB, HPG.

Meanwhile, gas firm GAS and lender TPB were among the stocks that left a negative impact on the index, as GAS shed 1.8% and TPB dipped 1.5%.

Securities stocks such as APG, CTS, and VIX hit their upper limits. Small and medium stocks in other sectors also ended on an upbeat note.

Construction firm ROS and property group FLC bucked the trend and made a sharp decline.

On the northern bourse, the HNX-Index added 1.25 points, or 0.36% versus the previous session at 346,07, with 132 winners and 72 losers. A host of small and medium stocks were cash magnets and reached their ceiling prices at the close, such as WSS, SCI, CTC, BII, and TDT.

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