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Strong demand keeps VN-Index afloat

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HCMC – Despite the profit taking pressure, the VN-Index of the Hochiminh Stock Exchange fluctuated in the positive territory and closed up 0.27% at 840.04 points today, August 6, buoyed by strong demand for large-cap stocks.

With 167 stocks rising and 199 others falling, the southern bourse saw 257 million shares worth VND4.2 trillion change hands, dropping by 16% in volume and 23% in value from the previous session. There were over 23.3 million shares valued at VND464.4 billion traded in block deals.

Under the profit taking pressure, 14 stocks in the VN30 basket lost ground, with consumer goods producer MSN shedding 2%, while 13 others finished the day up.

Brewery firm SAB improved by 3.7% while dairy producer VNM added 2.4% at VND114,800 per share.

Steelmaker HPG closed the session in the red, but took the lead by liquidity with 13.7 million shares changing hands, followed by steel firm HSG with matching volume of 10.3 million shares.

Many speculative stocks attracted strong cash flow, seeing a matching volume of four to nine million shares each. Petroleum stock PVD and property firm HAG gained steam while industrial zone developer ITA, realty trading firm HQC and property group FLC underperformed.

On the Hanoi Stock Exchange, the HNX-Index lost 0.67 points, or 0.59%, against the session earlier, at 113.35, ending a three-day winning streak.

Many stocks in the HNX30 basket traded in negative territory, with lenders ACB and SHB falling by 0.8%. Property group HUT plunged to near the floor price.

Oil and gas firm PVS was the most actively traded stock on the northern bourse with 6.5 million shares transacted.

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