Friday, February 28 2020


VN-Index passes 600 point benchmark

Update: July, 03/2015 - 09:43

Investors watch market fluctuations VPBank Securities' trading floor. On the HCM City Stock Exchange, VN-Index passed the 600-point landmark to close session at 605.70. — VNS Photo Truong Vi

HA NOI (VNS) — The VN-Index finally surpassed the psychological landmark of 600 points yesterday, adding 14 points, or 2.4 per cent, to close session at 605.70 points. Strong growth of blue chips helped boost other stocks in the HCM City's market, with advancers overwhelming decliners by 158-63 by the end of the session.

Up to 27 of a total 30 shares in the VN30, which tracks the top 30 shares by market value and liquidity on the HCM City Stock Exchange, gained value. Twenty stocks increased by more than one per cent.

The VN30 ended 1.66 per cent higher at 633.28 points.

Bank stocks continued to lead the uptrend. The biggest stock in terms of market capitalisation Vietcombank (VCB) and BIDV (BID) hit the ceiling price which was capped at 7 per cent a day while other lenders, including Vietinbank (CTG), Military Bank (MBB), Eximbank (EIB) and Sacombank (STB), climbed 2.7-5.3 per cent.

Other major blue chips, such as Masan Group (MSN), VinGroup (VIC), Bao Viet Holdings (BVH), PV Gas (GAS) and Saigon Securities Inc (SSI), also rose substantially.

Overall liquidity was little changed over the previous session, however, almost 137 million shares worth VND2.25 trillion (US$103.2 million) changed hands.

Without support information, Viet Nhat Medical Instrument Co (JVC) surprised the market to become the most heavily-traded share. Almost 12 million changed hands. The price also soared to the ceiling at VND8,100 a share.

FLC Group (FLC) closely followed with 11 million shares traded, closing flat at VND8,600 each.

On the Ha Noi Stock Exchange, the HNX-Index also edged up 1.77 per cent to finish at 86.76 points. The HNX30 went up 0.41 per cent to conclude at 164.46 points.

Bank shares were also the main support here as Asia Commercial Bank (ACB) and Sai Gon-Ha Noi Bank (SHB) advanced 3.7 per cent and 4.8 per cent, respectively. SHB was also the most active code with 6.8 million shares.

"Investor confidence grew amidst the bright prospects and cash continued to be pumped into the equity market," analysts at FPT Securities Co wrote on the company's website.

Both market volume and value increased 10 per cent over Wednesday, totalling more than 45 million shares worth VND567 billion ($26 million).

The foreign sectors remained net buyers in the HCM City's market, picking up another VND80.8 billion ($7.4 million) worth of shares, but they began to unload shares on the Ha Noi bourse, responsible for a net sell value of VND4.4 billion ($202,000). — VNS

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