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Sunday, June 16, 2024

Stock market bounces back

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HCMC – The VN-Index of the Hochiminh Stock Exchange bounced back on June 3, surpassing the range of 880 points, with the number of gainers dominating the southern bourse.

With 203 advancers and 157 decliners, the benchmark index closed at its intraday high of 881.17 points, adding 6.37 points or 0.73% over the previous session. Trading volume and value both dipped 27% and 22% respectively at 352 million shares worth over VND5.3 trillion, including some VND1 trillion worth of shares transacted in block deals.

Notably, industrial zone developer ITA turned a cash flow magnet in the afternoon and reached its upper limit of VND4,060, with a matching volume of 21.8 million shares. Meanwhile, in the morning, investors remained highly cautious about spending money on the stock.

Realty trading firm HQC, another speculative stock, maintained its steam from the morning and ended at its ceiling price of VND1,340, with 37.6 million shares changing hands.

Despite recording active trading and strong demand, construction firm ROS sank 5.63% to VND3,020.

Among bluechips, only brewery firm SAB, steelmaker HPG, local low-cost carrier VJC and national flag airline HVN dropped slightly, while the rest all closed in positive territory.

Particularly, lender HDB again hit its ceiling price at the close. Its peer TPB also rose a sharp 4.52% to VND21,950. Other gainers included gas firm GAS, State-owned rubber firm GVR, and the lenders CTG, BID, STB.

Steelmaker HPG was the volume leader in this group with 12 million shares traded. Lender STB ranked second with 8.7 million shares changing hands.

On the northern bourse, the HNX-Index closed at its intraday high as well. It improved 2.85 points or 2.5% to nearly 116.5, with 78 gainers and 66 losers. Three bank stocks, namely ACB, SHB, NVB, were among the major contributors to the rally.

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