Hnx – Talk Vietnam

Large-cap stocks drive VN-Index higher

The Saigon Times

An electronic board shows stock prices at a securities firm in HCMC. The benchmark VN-Index of the Hochiminh Stock Exchange rose by 0.74% on June 14 – PHOTO: THANH HOA

HCMC – Good performance of many largecaps pushed the VN-Index of the Hochiminh Stock Exchange up 0.74%, or 9.98 points, at 1,361.72 today, June 14.

At the close, the market breadth was positive with 202 gainers and 184 decliners. Trade volume totaled 775.7 million shares worth VND25.3 trillion changing hands, up 5.9% in volume and 6.6% in value from the previous session.

There were over 60.1 million shares valued at VND2.1 trillion traded in block deals.

Among key drivers of the main index, insurer BVH jumped by 4.7%, while gas firm GAS, housing firm VHM, fuel distributor PLX and property firm VIC maintained their growth momentum.

Many securities stocks, including SSI, AGR, APG, BSI and CTS, reported a strong rise of over 5%, contributing to the gain of the main index.

In the group of speculative stocks, agricultural company HNG soared by 3.9% at the close and reported a matching volume of 29.6 million shares, while construction firm ROS and property developer FLC lost ground.

Many bank stocks such as BID, CTG, VCB, VPB, MBB and MSB ended in the red, but lender VPB was the most actively traded stock on the southern bourse with over 36 million shares changing hands.

With 117 winners and 97 losers, the HNX-Index of the Hanoi Stock Exchange advanced 2.32 points, or 0.73%, from the session earlier, at 319.01. Over 165 million shares worth VND3.9 trillion were traded at the close.

Lender SHB lost steam, but took the lead on the northern bourse by liquidity with over 19 million shares traded.

Petroleum stock PVS and securities firm SHS also attracted cash flow and finished the session up.

The index stayed in the green throughout the day and fluctuated at 1,360 points before closing with a near 10-point gain. It scored a total 38 points in the last two sessions, en route to its previous peak of 1,374 points.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 6.6 percent to VND25.34 trillion ($1.1 million). The bourse saw 202 tickers gain and 184 lose.

The VN30 basket, comprising the 30 largest capped stocks, saw 21 tickers in the green, with VHM of real estate giant Vinhomes and VIC of largest private conglomerate Vingroup the biggest contributor to VN-Index’s gain with 5.4 points.

VHM surged 3.7 percent to a new height, having gained nearly 23 percent this year.

VIC of biggest private conglomerate Vingroup rose 1.7 percent, breaking its downward trend that began on April 19. It has lost nearly 17 percent since.

SSI of leading brokerage SSI Securities Corporation shot up 5.8 percent to a new peak, having risen in the past four sessions.

BVH of insurance company Bao Viet Holdings rose 4.7 percent to a near two-month high.

On the losing side, VPB of private lender VPBank led with a 1.1 percent drop, followed by HDB of HDBank, down 1 percent.

Foreign investors turned net sellers to the tune of VND80 billion, with strong pressure on MBB of Military Bank and VND of brokerage VNDirect.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.73 percent while the UPCoM-Index for the Unlisted Public Companies Market fell 0.11 percent.