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Stocks extend rally for third day

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HCMC – Domestic stocks advanced for the third consecutive session, with the VN-Index of the Hochiminh Stock Exchange closing up 1.24% at 837.8 points today, August 5 as hundreds of stocks, mainly large caps, gained ground.

The main index added 10.23 points against the session earlier, with 300 stocks rising and 78 others falling. There were 306.6 million shares worth VND5.37 trillion changing hands, up 10% in volume and 28.5% in value from the day earlier. Block deals contributed VND988.5 billion to the total value.

Except for property firm VIC and fuel distributor PLX ending in the red, most of the large-cap stocks traded in positive territory.

Steelmaker HPG made a strong rise at 4.7% and took the lead by liquidity on the southern bourse with 25.9 million shares traded.

Other stocks, including national flag carrier HVN, lenders HDB and TCB, budget airline VJC, mobile phone retailer MWG and brewery firm SAB, jumped by 2.8%-4.1% at the close.

Meanwhile, under selloff pressure, many speculative stocks lost steam. Industrial zone developer ITA fell by 0.9%, while realty trading firm HQC dropped by 1.3%.

The HNX-Index of the Hanoi Stock Exchange rose by 1.52 points, or 1.34%, from the session earlier, at 114.02, backed by many bluechips.

Lender ACB was among key contributors to the gain of the index as the bank stock added by 1.3% at the close and was the most actively traded stock on the northern bourse with 5.47 million shares changing hands.

Bank stock SHB, construction firm VCG, industrial company VCS and forestry corporation VIF also ended higher.

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