Saturday, October 29 2016


Steel stocks push VN markets up

Update: June, 09/2016 - 10:13
Hoa Sen Group inaugurates a new production line using non-oxidising furnace technology at the Đồng Hới Industrial Zone in the central province of Nghệ An in June. The group’s stock soared nearly 6 per cent yesterday. — VNS file photo
Viet Nam News

HÀ NỘI — The VN-Index came close to its one-year high in yesterday morning’s session, however under the selling pressure of the afternoon session, it only rose 3.32 points to close at 627.87 points yesterday.

The crude oil price officially reached over US$50 per barrel to its highest in three months, leading to an early rally in local oil and gas stocks including PetroVietnam Gas Corp (GAS), PetroVietnam Drilling and Well Service Corp (PVD), PetroVietnam Technical Services Corp (PVS) and PetroVietnam Coating Corp (PVB), however, at the end of the day GAS lost nearly two per cent while the others grew between 1 and 2.5 per cent.

Steel producers Hòa Phát Group (HPG) and Hoa Sen Group (HSG) rose sharply. HPG increased 1.65 per cent to reach its highest level in a year, while HSG rose 5.71 per cent to climb to its highest price since being listed.

In the insurance business, Bảo Việt Holdings (BVH) rose 3.28 per cent  while Post and Telecommunication Joint Stock Insurance Corp (PTI) lost nearly 8 per cent.

Realty stocks Vingroup JSC (VIC), Kinh Bac City Development Share Holding Corp (KBC) were both unchanged while FLC Group (FLC) lost about 1.5 per cent to close at VNĐ6,600 each.

Among banks, Sai Gon Thuong Tin Commercial Bank (STB) and the Asia Commercial Bank (ACB) saw average gains of 1 per cent each while the Joint Stock Commercial Bank for Foreign Trade of Viet Nam (VCB) and Military Commercial Joint Stock Bank (MBB) lost about 0.5 per cent.

On the southern HSX bourse, foreign net buying reached nearly VNĐ174 billion. In which MBB topped with 1.26 million shares bought, HPG went after with 694,000 shares bought while foreigners also sold more than 200,000 shares of GAS.

On the HNX, foreign net buying reached VND6.7 billion, with 210,000 shares of Viglacera Hạ Long JSC (VHL) and 155,000 shares of KLF Joint Venture Investment International JSC (KLF) being bought. Foreign investors also bought 189,000 shares of PVS.

Ending the day, HNX-Index also rose 0.62 points to reach 83.81 points.

Total trading volume reached 123 million shares on the two bourses worth VND4 trillion, much better than the previous trading sessions,  said Sài Gòn-Hà Nội Securities Corp (SHS). — VNS


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