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Saturday, June 15, 2024

VN-Index rebounds strongly, HNX-Index reaches all-time high

The Saigon Times

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HCMC – After dropping to nearly-two-month lows on Tuesday, the VN-Index of the Hochiminh Stock Exchange rebounded today, with securities stocks being the main drivers.

The benchmark index rose 0.64%, or 9.4 points, to close the day at 1,475.85. There were 247 winning stocks, including 32 shooting up to the ceiling prices, and 205 losing ones.

Some 860.8 million shares worth over VND26 trillion changed hands on the southern market, falling 30% in volume and 25% in value compared with the previous session. Approximately 32 million shares worth over VND1.6 trillion were traded in block deals.

Most securities stocks gained ground, with VND being the biggest gainer as it shot up to the ceiling price at VND74,300. CTS reversed course to end lower, becoming the only securities stock that lost ground.

Other major contributors also included realty firm VIC and petroleum stock PLX, which contributed 2.6 points to the VN-Index. VIC rose 1.6% to VND96,300 and PLX soared 5.6% to VND62,100.

Besides, lenders BID and VCB rose 1.87% to VND43,600 and 0.82% to VND98,000, respectively, contributing 1.6 points to the benchmark index.

In contrast, steel stocks performed poorly, seeing HPG and HSG drop 1.2% to VND51,400 and 1.4% to VND42,500, respectively.

Many speculative stocks hit the upper limit, including ITA, QCG, PXI, QBS, HVH, and HHS. Other best performing penny stocks included HQC and LDG, which surged 6.8% and 5.2%, respectively. In addition, BCG rose 3.2% and TCH rose 2.1%.

Meanwhile, HAG, HOSE. HAI, HNG, and LCG dipped into the red.

Farming group HAG led the southern market by liquidity with over 30.6 million shares transacted.

On the Hanoi Stock Exchange, the HNX-Index rose 2.37%, or 10.7 points, to reach its all-time high of 462.95 points.

Gaining stocks outnumbered decliners by 145 to 117. Among the advancers, 22 shot up to the ceiling prices.

Some 147.8 million shares worth approximately VND4 trillion were transacted, falling 23% in volume and 13% in value from the previous session.

Tour service provider THD and trading and service firm KLF soared 5.01% and 9.42%, respectively, to close at their intraday highs, contributing nearly 7 points to the HNX-Index.

The major contributors also included securities firm SHS and petroleum stock PVS, which rose 1.5% to VND48,600 and 0.7% to VND29,200, respectively.

In addition, construction company CEO and securities firms ART, APS, and VIG hit the upper limit. BII, PVL, and DST also grew strongly and had good liquidity.

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