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Sunday, May 9, 2021

VN-Index hits new high on upbeat investor sentiment

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HCMC – Strong cash flow facilitated the growth of hundreds of stocks in the local market today, December 11, enabling the benchmark VN-Index to exceed the 1,045-point level and set its new peak for this year.

With up to 313 stocks advancing and 124 others falling, the main index of the Hochiminh Stock Exchange expanded as much as 15.05 points, or 1.46% against the previous session at 1,045.96. Trading on the southern bourse contracted by nearly 26% in volume and some 21% in value at over 463 million shares worth more than VND10.5 trillion. Of this, shares traded in put-through transactions contributed around VND1.8 trillion to the total value.

Among bank stocks, only VCB, HDB and EIB failed to rise. The remaining lenders ended in positive territory, with many of them such as BID, MBB, TCB, and VPB hitting their intraday highs.

Besides this, a host of brokerages including SSI, HCM, VND, CTS and steelmakers HPG, NKG, HSG improved 3.5%. Similarly, fuel stocks GAS, PLX and PVD as well as other largecaps such as housing developer VHM, real estate company VIC, insurer BVH and brewery SAB joined the market uptrend.

As for market liquidity, steelmaker HPG was the most actively traded stock on the HCMC market with 16.64 million shares transacted. Other winners including STB, ITA, HBC, TCB reported matching volume of over 10 million shares each.

Aside from its active trading, construction firm HBC recorded a sharp rise in price as it surged 6.3% to nearly approach its ceiling price of VND14,250. The good performance could be attributable to the firm’s announcement to pay a 2019 cash dividend of 3%.

On the Hanoi market, the HNX-Index added 0.56 point, or 0.35% over the session earlier to stay at 159.3, with 98 winners and 62 losers.

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