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Stock markets extend rallies

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HCMC – The active trading of many large-cap stocks, coupled with the strong gain of the bank group, sent the VN-Index of the Hochiminh Stock Exchange up to stand at an intraday high of 933.68 points today, November 2.

Market breadth was positive as gainers outnumbered losers by 304 to 127. The main index advanced 8.21 points, or 0.89%, against the previous session. The southern bourse saw over 297 million shares worth VND5.3 trillion changing hands, down 4.8% in volume and 18.5% in value from the session earlier. Block deals contributed some VND690 billion to the total value.

In the VN30 basket, as many as 20 stocks ended the day up while seven others, including dairy firm VNM, gas firm GAS and housing developer VHM, edged down.

Many bank stocks were key contributors to the rise of the main index, with CTG jumping by 4.8% at the close. Lender VCB rose by 3.4% to its intraday high, while other bank stocks such as BID, MBB, STB and HDB also gained steam.

Some other large-cap stocks, including budget airline VJC, insurer BVH, mobile phone retailer MWG and jewelry firm PNJ, closed the session up 1%-3.7%.

Speculative stock FLC stole the limelight after Chairman Trinh Van Quyet had announced the purchase of 35 million FLC shares. The property group shot up to the ceiling price and took the lead for liquidity on the southern bourse with 32.8 million shares transacted.

The HNX-Index of the Hanoi Stock Exchange added 1.53 points, or 1.13%, at 136.87, buoyed by strong demand for largecaps, extending its winning streak to the third straight day. Trade volume totaled over 30.1 million shares valued at VND327.7 billion.

Many bank stocks became key drivers of the index, with ACB and SHB ending up 1.7% and 1.3%, respectively.

Construction firm MST was the most actively traded stock on the northern market with 3.8 million shares changing hands, followed by lender ACB with a matching volume of 3.78 million shares.

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