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Tuesday, July 16, 2024

Strong cash flow helps stock market rebound

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HCMC – The strong cash flow helped the local stock market rebound strongly today, July 28 after two consecutive gloomy sessions.

The benchmark VN-Index of the Hochiminh Stock Exchange advanced by 3.59%, or 28.19 points, to close the day at 813.36 points. Winning stocks far outnumbered losers by 360 to 49. There were 328.5 million shares worth VND5 trillion changing hands, falling by 22% in volume and 28% in value compared with the previous session.

In the VN30 basket, low-cost air carrier VJC was the only stock that lost ground, dropping by 1.4% to VND96,500 per share.

Besides securities firm SSI and housing developer VHM that shot up to the ceiling prices at VND14,200 and VND75,800 per share, respectively, many large-cap stocks gained ground. Lenders BID and MBB and dairy producer VNM rocketed by 6.2-6.5%, while construction firm ROS, steelmaker HPG, electricity firm POW, lender VPB, technology firm FPT and brewery SAB soared by 4 to 5.9%.

Construction firm ROS led the southern market in trade volume with nearly 21 million shares changing hands. Five stocks had 11-15 million shares traded, including steelmakers HSG and HPG, lender STB, real estate corporation HQC and industrial zone operator ITA.

On the Hanoi Stock Exchange, the HNX-Index surged by 4.99%, or 5.13 points, to end at 107.98 points, with winning stocks far outnumbering losers by 126 to 39.  There were 53.1 million shares worth VND439 billion traded, dropping by 18% in volume and 28% in value against the session earlier.

Thirty-eight stocks on the northern market shot up to the ceiling prices, including electric device producer MBG, realty firm TIG, securities firm VIX, stainless steel firm KVC and investment company IDJ.

Service firm KLF was the most actively traded stock on the northern market with 4.73 million shares changing hands, followed by petroleum stock PVS with 4.25 million shares and bank stock ACB with 2.59 million shares.

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