HCMC – The strong cash flow spurred the local stock market on June 1 with the two indexes on the southern and northern bourses flying so high at the close.
With 286 advancers and 99 decliners, the VN-Index of the Hochiminh Stock Exchange soared 14.2 points or 1.64% against last Friday to 878.67.
Trading volume on the southern bourse spiked nearly 50% at 476.52 million shares and value also surged over 50% at VND7.3 trillion. Notably, more than 58 million shares were traded in block deals with a total value of over VND2.2 trillion, including some 11 million shares worth VND807 billion of housing developer VHM.
Aside from the huge block deals, VHM was also among the biggest contributors to the benchmark index’s strength as it expanded 3.3% to VND79,100 per share, with 3.25 million shares changing hands. Meanwhile, other two members in the Vingroup family—retailer VRE and property firm VIC—just made slight gains.
Further, bank stocks were among the key drivers of the main index. Lender VCB added 1.5% to VND86,500. Its peers such as BID, CTG, HDB, MBB all increased over 3%. Particularly, VPB soared as much as 5.1% to the intraday high of VND24,550.
Besides this, other bluechips including gas firm GAS, insurer BVH, dairy company VNM, and steelmaker HPG rose a slight 1%.
Among small and medium stocks, construction firm ROS lost 2.86% and was the most actively traded stock on the southern bourse with over 82 million shares transacted.
On the Hanoi market, the strong cash flow also buoyed the HNX-Index, which jumped 4.32 points, or 3.94%, to 114.14, with 114 winners and 58 losers. As the best performer, lender ACB skyrocketed by a staggering 9.6% at the close and led the northern bourse by liquidity with over 13.8 million shares traded.