Tuesday, September 26 2017

VietNamNews

Stocks rally during last trading day before Tet

Update: February, 13/2015 - 08:18

HA NOI (VNS) — National stocks that had continued to gain yesterday, saw their growth momentum slow down today.

The possibility of a further uptick is uncertain and depends on the movement of shares during the first trading session of the Lunar New Year. Today was the last trading session before the domestic stock market opens again on February 23 after the holiday.

On the HCM City Stock Exchange, blue chips were more active, pushing the VN30 Index up 1 per cent to 613.36 points.

The index, tracking the performance of the 30 biggest stocks, registered gains for 21 codes.

Meanwhile, only four stocks tumbled: HCM City Infrastructure Investment (CII), Becamex Infrastructure (IJC), Military Bank (MBB) and Vietcombank (VCB), and five others remained unchanged at the closing time.

Da Nang Rubber's (DRC) shares led the rally with a 3.3 per cent increase and its runner-up, property developer Vingroup (VIC), rose 3.1 per cent. Foreign investors had bought 42 per cent of VIC traded shares yesterday.

Among the 30 blue chips, real-estate group Hoang Anh Gia Lai (HAG) added 1.8 per cent with 3.9 million shares changing hands. The group's stock also surged on the news that it has entered into an agreement with Singapore property developer Rowsley to sell a 50 per cent stake in its HAGL Myanmar Centre project in Myanmar for $275 million.

The benchmark VN-Index advanced 0.5 per cent to 584.67 points on a total turnover of VND1.4 trillion ($65.7 million).

Meanwhile, the stocks that appreciated the most and hit ceiling prices, were small-caps and low-priced shares, namely Ben Thanh Trading and Service (BTT), food company Ntaco (ATA), retailer Phuong Nam Cultural (PNC), as well as Khang An Real Estate Investment (KAC) and TMT Automobile (TMT).

On the Ha Noi Stock Exchange, the HNX Index closed at 84.72 points, rising 0.3 per cent.

Its trading value reached nearly VND471.4 billion ($22.1 million) as investors traded over 35.9 million shares. — VNS

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