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Positive investor sentiment drives stocks up

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HCMC – The VN-Index of the Hochiminh Stock Exchange gained nearly 13 points to end at 827.57 today, August 4, backed by positive investor sentiment and stable cash flow.

Market breadth was positive as gainers outstripped losers by 326 to 68. The southern bourse saw over 277.4 million shares worth VND4.2 trillion change hands, down 7% in volume and 12% in value, against the session earlier. Block deals amounted to some 26 million shares valued at VND694 billion.

Strong demand spurred most of the stocks in the VN30 basket up, with construction firm ROS, lender VCB and housing developer KDH advancing by over 3%.

Meanwhile, refrigeration electrical engineering firm REE and sugar producer SBT stood at their reference prices.

Many small and medium stocks continued to attract cash flow, with property firm HBC, electrical equipment firm GEX, fertilizer producer DPM and lender STB trading in positive territory.

A number of penny stocks shot up to their ceiling prices, including realty trading firm HQC, industrial zone developer ITA, mining firm AMD and agricultural firm HAI.

HQC took the lead by liquidity on the southern market with 22.1 million shares changing hands, followed by ITA with a matching volume of 12.7 million shares.

The Hanoi Stock Exchange also saw the HNX-Index rally for the second day to close at 112.5 points, up 1.88% from the session earlier.

With 97 winning stocks and 49 others losing, over 45.4 million shares worth VND480.1 billion were traded on the northern bourse, up 7% in volume and 20% in value, against the previous session.

Some bluechips such as lenders ACB and SHB were among key supporters for the northern market.

Other stocks in the HNX30 basket, including property group HUT, securities company SHS and asset management corporation TVC, jumped by 3%-7% at the close.

HUT was the most actively traded stock on the northern bourse with 4.6 million shares changing hands.

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