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VN-Index hits new high as bank stocks soar

The Saigon Times

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HCMC – Many stocks in the banking sector hit their daily ceiling prices today, November 24, helping the VN-Index to set new record.

Besides bank stocks, securities stocks extended gains, while steel stocks fell and real estate and construction stocks split.

Closing the day, the main index added 25.24 points, or 1.72%, at 1,488.87 points with 287 stocks advancing and 164 others falling.

Turnover on the southern bourse improved 26.9% in volume and 36.8% in value versus the previous session at some 1.1 billion shares and more than VND35.9 trillion, including some VND2.1 trillion worth of shares traded in block deals.

Among bank stocks, six closed at their ceiling prices, including STB, SSB, EIB, MBB, VIB and OCB. Others also reported a sharp rise, such as MSB by 6.62%, LPB by 6.29%, VCB by 5.75%, TCB by 5.51% and HDB by 5.35%.

Except for TPB posing a slight increase of 0.82%, the remainder picked up between 2.9% and 4.83% each.

Bank stocks also reported a huge increase in liquidity. The five best performers in terms of liquidity on the southern bourse were all bank stocks, including STB with 67.32 million shares changing hands, TCB with 52.38 million shares, LPB with 44.93 million shares, MBB with 43 million shares and VPB with 36 million shares.

In the group of property and construction stocks, only HTN and HDG hit their daily ceiling prices, while LDG closed at its floor price.

Steel stocks remained the worst performers among pillar stocks as falling stocks dominated the group. Specifically, HPG dropped 1.82% at VND48,650, HSG slid 2.94% at VND37,950 and NKG lost 4.98% at VND41,000.

On the Hanoi Stock Exchange, the HNX-Index gained 6.98 points, or 1.56%, to hit its intra-day high, at 455.58 points.

Some 128.2 million shares worth over VND3.8 trillion were traded, down 4.6% in volume but up slightly in value versus yesterday.

Construction firm THD advanced 2.38% to its highest level of the day, at VND240,800, contributing significantly to the HNX-Index’s rise

Moreover, securities stock BAB added 3.27% to its intra-day high and NVB rose 5.37%.

Construction firm CEO, after tumbling on Monday, rebounded yesterday and surged to its ceiling price today, at VND35,200.

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