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Stock market bounces back

The Saigon Times

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HCMC – Strong gains of many bluechips, mainly bank stocks, coupled with upbeat investor sentiment, sent the VN-Index of the Hochiminh Stock Exchange up today, December 1, ending its losing streak of three straight sessions.

At the close, the main index added 6.75 points, or 0.46%, from the session earlier, at 1,485.19, with 223 winners and 236 losers. Trade volume totaled 877 million shares worth VND26.6 trillion, down 19% and 22.7%, respectively, against the day earlier. Over 39.2 million shares were traded in block deals.

In the group of bank stocks, 15 lenders gained steam, while two others, including EIB and BID, ended down.

Lender TPB shot up to its ceiling price on a matching volume of 5.5 million shares, while bank stocks HDB and STB closed at their intraday highs. Other lenders such as OCB, VIB and MBB advanced over 1.5% each.

The groups of real estate and constructions stocks maintained their growth momentum, with QCG, HTN and ROS ending up at their upper limits.

Many small and medium stocks, including NVT, FLC, DXS and HQC, were in positive territory.

The group of oil and fuel stocks also made positive movements, while many securities and steel stocks came under strong selling pressure and ended down.

On the Hanoi Stock Exchange, the HNX-Index continued its downtrend as the index lost 2.25 points, or 0.72%, from the previous day, at 455.81, with 124 gainers and 121 decliners.

Profit-taking pressure sent property firm CEO down over 5%, while securities firms SHS, MBS and BVS were among major drags of the index.

Food service provider KLF bucked the falling trend to finish up and took the lead by liquidity on the northern bourse with over 13 million shares changing hands.

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