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Strong cash flow lifts stock market up

The Saigon Times

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HCMC – Strong cash flow into property stocks, coupled with the gain of bluechips, helped the VN-Index of the Hochiminh Stock Exchange end higher today, October 7.

Closing the day, the benchmark index advanced 3.17 points, or 0.23%, from the session earlier, at 1,365.99, with 228 winners and 192 losers.

More than 693 million shares worth VND19.9 trillion changed hands, up 9% in volume and 2% in value over the previous day. Block deals contributed VND1.2 trillion to the total value.

Among bluechips, lender VPB ended its seven-session losing streak to close up 4.2% and reported a matching volume of 12.4 million shares.

Lender VCB, insurer BVH and securities firm SSI were in positive territory, while bank stock TPB, consumer goods firm MSN, jewelry firm PNJ and dairy company VNM lost ground.

Steelmaker HPG ended in the red, but took the lead by liquidity on bourse with a matching volume of 26.7 million shares, followed by electricity firm POW with 17.1 million shares traded.

Many property and construction stocks were traded actively and reported a matching volume of 2.8-16.6 million shares each. Among them, SZC, DLG and BCG hit their ceiling prices at the close.

In the group of logistics and transport stocks, HAH, VOS, VNL and GMD made a strong gain of 2%-5.9%.

The HNX-Index of the Hanoi Stock Exchange maintained its growth momentum and closed up 1.93 points, or 0.52%, from the session earlier, at 370.4.

Among large-cap stocks, property enterprise CEO, securities firms SHS and MBS, industrial development firm IDC and realty company TIG gained ground, significantly contributing to the rise of the index.

Fuel stock PVS finished the day down, but became the most actively traded stock on the northern bourse with over 10.2 million shares changing hands.

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