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Monday, June 24, 2024

VN-Index inches up slightly

The Saigon Times

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HCMC – While bank stocks were the major drags on the HCMC bourse today, August 31, the gains of small and medium real estate stocks and some blue-chips drove the VN-Index up slightly.

With 206 gainers and 186 losers, the index of the Hochiminh Stock Exchange (HOSE) rose 3.33 points, or 0.25%, at 1,331.47 points.

The southern bourse saw over 733.8 million shares worth nearly VND22.9 trillion changing hands, up 8% in volume and 7% in value against the session earlier. More than 21.48 million shares valued at nearly VND1.2 trillion were traded in block deals.

The VN30 basket split strongly as 14 stocks gained, 13 others fell and three stocks—property developer VIC, dairy firm VNM and lender VPB—closed at their reference prices.

Rubber group GVR reported the highest increase in the basket, at 3.1%.

Some other stocks also edged up, such as real estate company PDR with a 2.8% increase at VND87,900 and fuel distributor GAS with a 2.2% rise at VND89,400.

On the other hand, bank stocks pushed the market down. Specifically, HDB lost 2.8% at VND25,000 and STB slid 2% at VND27,350.

In addition, BID, TCB, CTG, TPB and MBB declined 1.3%-1.8% each. Only VCB inched up a slight 0.1%.

Industrial park developers KBC and ITA were among the most actively traded stocks on the bourse. KBC led the HCMC bourse by liquidity with over 25.98 million shares transacted, while 21.1 million ITA shares were traded.

KBC added 6.1% at VND42,600, while ITA surged 6.9% to its ceiling price of VND7,150.

Among steel stocks, only HPG added 1.2%, TLH inched up 2.6% and HSG and NKG edged up slightly. The remainder dropped.

Besides bank stocks, securities stocks put pressure on the market as only VDS advanced a slight 0.2%.

On the Hanoi bourse, the HNX-Index increased 1.51 points, or 0.44%, at 342.81 points. There were 144 million shares worth some VND3.1 trillion traded.

In the HNX30 basket, securities stocks SHS and BVS lost over 2% each, and lender SHB closed at its reference price and saw 15.19 million shared matched, leading the northern bourse.

Meanwhile, petroleum stock PVS had its third consecutive winning session, closing up 2.8% at VND25,900.

Property and construction stocks remained bright spots with IDC surging 4.7% and CEO rising 3.3%.

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