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Friday, July 1, 2022

Stocks in Vingroup family prop up main index

The Saigon Times

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HCMC – The growth of VIC and VRE in the Vingroup family helped the VN-Index of the HCMC market close on an upbeat note today, January 6, despite losses facing bank stocks.

The benchmark VN-Index gained 6.7 points, or 0.44% over the session earlier at 1,529.20, with 223 winners and 225 decliners. Market turnover improved both in volume and value compared to the previous session, with more than 1.13 billion shares worth over VND35 trillion transacted on the southern bourse.

In the group of largecaps, stocks linked to Vingroup took the lead among advancers. Retailer VRE hit its upper limit for the second straight session. Real estate developer VIC expanded 4.5%, and housing developer VHM improved 1.5%.

Aside from the stocks in the Vingroup family, three lenders BID, VCB, and STB ended in positive territory, in contrast to their fellows. Also, housing developer KDH inched up 2%, electricity firm POW rose 1.3%, and low-cost carrier VJC edged up 0.7%.

Meanwhile, consumer goods producer MSN and many bank stocks suffered losses.

MSN was the steepest decliner in the VN30 basket, losing 4.5%, while lender CTG shed over 2%. Brokerage SSI, brewery SAB, steelmaker HPG, and lender TCB dipped over 1%. Dairy firm VNM, insurer BVH, and jewelry maker PNJ also lost ground.

Among 38 stocks hitting their upper limits on the southern bourse, most of them were linked to the real estate and infrastructure fields.

Stocks in the FLC family slowed down in the afternoon phase, as property developer FLC and construction firm ROS failed to stick to their ceiling prices, but AMD and HAI soared to their upper limits.

On the northern bourse, the HNX-Index improved 0.93%, adding 4.46 points to close at 484.83.

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