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Stock market bounces back strongly

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HCMC – After a sharp fall yesterday, the VN-Index of the Hochiminh Stock Exchange bounced back strongly today, September 28, as cash flowed into many blue-chip stocks.

With 265 advancers and 118 decliners, the main index added 14.6 points, or 1.08% compared to the session earlier at 1,339.31 points. The trade volume, however, took nosedive, as only some 623.5 million shares worth around VND18.4 trillion were transacted on bourse, dropping 20% in volume and 16% in value. Of the total, 36.65 million shares valued at over VND2 trillion were traded in block deals.

In the VN30 basket, up to 24 stocks rose and only four others fell. Among rising stocks, gas firm GAS added 5.7% at VND95,100, while insurer BVH expanded 5.9% at VND58,700.

Meanwhile, consumer goods company MSN, one of the two stocks with the highest increase in the morning session, closed up 0.7% at VND136,000.

As for liquidity, steelmaker HPG led the southern market with 35.6 million shares traded.

In the group of small and medium stocks, the high demand helped many stocks increase, such as TCH, ROS, KBC and HQC. They saw 9.6-17.6 million shares each changing hands.

As the global fuel prices surged, local fuel stocks strongly attracted cash flow. Of which, PVD, PGD, CNG, PGC, ASP and TDG hit their ceiling prices.

On the other hand, wholesale trader QBS, chemical producer CSV and electric equipment manufacturer SAM closed at their floor prices.

On the northern market, the HNX-Index added 3.02 points, or 0.86%, at 353.73 points. Turnover improved over 9% in volume and 14% in value against the session earlier at more than 159 million shares and over VND3.2 trillion, respectively.

Notably, petroleum firms PVS and PVB soared 8% and 6.7% at VND28,300 and VND16,000, respectively.

In the HNX30 basket, besides PVC, mining firm NBC and plastic company NTP reached their ceiling prices, contributing to the HNX-Index rise.

PVS was the most actively traded stock on the market with over 15.96 million shares changing hands.

Meanwhile, wholesaler VKC plummeted 9.8% at VND18,500 and electronics producer SMT tumbled 10% at VND26,100.

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