Wednesday, October 26 2016


Rubber pushes VN stocks up

Update: April, 09/2016 - 09:00
Investors at BSC’s exchange bourse. Rubber producers yesterday led the markets up. - VNS Photo Trương Vị
Viet Nam News -

HÀ NỘI – Vietnamese shares continued rising on both local markets yesterday, led by rubber companies.

The benchmark VN Index on the HCM Stock Exchange inched up 0.1 per cent to close at 572.34 points, rallying 3 per cent in the last four trading days.

The HNX Index on the Hà Nội Stock Exchange added 0.7 per cent to finish at 80.24 points, climbing a total 2.3 per cent in the last five sessions.

Rubber companies took a turn from energy companies and banks to lead the markets up.

The Southern Rubber Industry JSC (CSM) surged 6.3 per cent, Đà Nẵng Rubber JSC (DRC) rose 2.2 per cent, and Sao Vàng Rubber JSC (SRC) edged up 0.3 per cent.

The stock markets also received strong support from dairy firm Vinamilk (VNM).

VNM advanced 1.4 per cent following its recent announcement that the company will allow more foreign ownership in its capital after removing seven businesses from its portfolio. VNM has surged 6.7 per cent in the last five days.

Additionally, confectionery producer KIDO Group (KDC) jumped 4.5 per cent on net foreign buying. KDC has rallied 9 per cent in the last three sessions.

Property developers also made improvements, led by Vingroup JSC (VIC), Tân Tạo Investment Industrial JSC (ITA) and Phát Đạt Real Estate Development JSC (PDR), which gained 0.6 per cent, 0.7 per cent and 2.1 per cent, respectively.

Other large-cap stocks also made gains such as the Asia Commercial Bank (ACB), Sài Gòn-Hà Nội Bank (SHB) and Kim Long Securities Corp (KLS), which were up 1.6 per cent, 1.5 per cent and 2.2 per cent, respectively.

On the contrary, markets saw large-cap stocks decline on profit-taking activity.

Insurer Bảo Việt Holdings (BVH) led the insurance sector down by losing 1.9 per cent after the stock had advanced 4.7 per cent in the previous four sessions.

Among brokerage companies, Sài Gòn Securities Inc (SSI) fell 0.9 per cent after the stock added 3.8 per cent in the previous five trading days.

Additionally, HCM City Securities Corp (HCM) declined by 0.7 per cent from a three-day rally of 2.8 per cent.

Bình Minh Plastic JSC (BMP) was down 0.7 per cent after it jumped 4.9 per cent during the previous three sessions.

Other blue chips also pulled back. Vietcombank (VCB), and the Bank for Investment and Development of Việt Nam (BID) dropped 0.6 per cent and 0.8 per cent, respectively, while food producer Masan Group (MSN) decreased by 2.1 per cent.

Both local markets traded nearly 179 million shares worth VNĐ3 trillion (US$135.3 million), an increase of 11.6 per cent from Thursday’s trading value. – VNS

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