Monday, August 20 2018

VietNamNews

VN-Index climbs on rate cut news

Update: March, 25/2014 - 08:50
Investors follow transactions at An Binh Secutiries Company in HCM City. Market breadth was positive on the HCM City Stock Exchange yesterday. — VNA/VNS Photo Hoang Hai

HA NOI (VNS)— Shares on both national bourses started the week on a positive note, with the benchmark VN-Index soaring to a four-year high after the central bank slashed key interest rates last Tuesday.

The stock market, currently the most profitable investment channel, remained a destination for profit-seeking cash flow. Profits from the stock market are typically invested in real estate, said Quang Tung, an individual analyst.

The VN-Index surged 5.8 points to close at 607.55 points. Market breadth was positive on the HCM City Stock Exchange, where green spread across the billboard with 219 stocks advancing, 28 remaining unchanged and 52 tumbling.

Boisterous transactions spurred liquidity. With nearly 194 million shares traded, total trading volume in the southern bourse reached more than VND3.2 trillion (US$155 million).

The price of bank and securities shares increased with the frequency of transactions. Saigon Securities Inc (SSI) hit the ceiling price at VND29.8 per share, Sacombank (STB) went up VND900 ($0.04) to end at VND20.9 per share and Vietcombank (VCB) rose VND700 ($0.03) to close at VND31.8 per share.

The VN30-Index, which lists the southern bourse's 30 largest stocks by capitalisation and liquidity, rose 9.34 points or 1.37 per cent to close at 689.32. Market volume was down 15 per cent from the previous day, totalling 195 million shares and fund certificates worth VND3,273 billion ($156 million), down 35 per cent from last Friday.

Tan Tao Investment – Industry Corporation (ITA) continued to lead the bourse by liquidity with more than 14 million shares changing hands. The stock rallied 4.2 per cent to end at VND10,000 per share.

Hoang Quan Consulting Trading Service Real Estate Corporation (HQC) came second in market volume with 9.5 million shares traded, surging 6.4 per cent to close at VND10,000 per share. FLC Group (FLC) gained 6.8 per cent to reach VND15,700 per share on trades of 7.4 million shares.

The HNX-Index also added 2.9 per cent to end the day at 92.99 points. Liquidity remained high.

The HNX 30, comprised of the northern city's leading stocks in terms of capitalisation and liquidity, gained 3.61 per cent to end at 191.94 points.

This was the eighth consecutive trading session in the northern bourse, where there were 251 gainers, 50 losers and 28 that closed unmoved.

Trading volume was down 15 per cent from last Friday, totalling 115 million shares worth VND1,419 billion ($67 million), down 20 per cent from the previous day.

Sai Gon-Ha Noi Bank (SHB) was the most active stock with 8 million shares traded, rising 3.45 per cent to close at VND12,000 per share.

Sai Gon Thuong Tin Real Estate Joint Stock Company (SCR) came third in liquidity with 15 million shares changing hands, jumping 7.41 per cent to end at VND11,600 per share. Kim Long Securities (KLS) surged 2.8 per cent to finish at VND14,700 on trades of 5.6 million shares. — VNS


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