Strong cash sends VN-Index rising to new record
The Saigon Times
|Investors watch stock prices at a securities company in HCMC. The VN-Index hits a new record today, April 14 – PHOTO: TRAN LINH|
HCMC – The strong cash flow pushed the VN-Index of the Hochiminh Stock Exchange up today, April 14, to its highest-ever level of 1,255.87 points.
With winners outnumbering losers by 263 to 153, the main index added 7.54 points, or 0.6%, from the session earlier. The southern market saw nearly 862 million shares worth over VND19.3 trillion changing hands, declining by 16% in volume and 18% in value compared with the previous session. Some 48.5 million shares worth over VND1.6 trillion were traded in block deals.
Among blue-chip stocks, consumer goods company MSN increased to its ceiling price of VND100,700 and saw 6.6 million shares changing hands. Lender EIB also closed the day at its ceiling price of VND25,250.
Bank stock VCB ended the morning session at its reference price but rose 1.23% at VND98,700 in the afternoon session, while steelmaker HPG surged 5.79% at VND53,000.
Besides Vingroup stocks, a few blue-chip stocks ended in the red but their decline was mainly below 1% each.
The strong cash flow pushed many other stocks to their ceiling prices. For example, construction firm ROS rocketed to VND6,740 with 69 million shares being traded. Real estate developer FLC also soared to VND12,400 with 41.7 million shares matched and industrial zone developer ITA jumped to VND8,880 with 32.6 million shares traded.
Real estate stocks HQC and DLG were not outsiders to the trend, rising to VND4,450 and VND4,000, respectively. There were 30 million HQC shares and 26 million DLG shares changing hands.
FLC's affiliates, AMD and HAI, also rocketed to their ceiling prices of VND5,940 and VND5,390, respectively.
Developments on the Hanoi Stock Exchange were similar to those on the southern bourse as the HNX-Index also increased from the beginning of the session and closed at its highest level of the day.
The index picked up 2.64 points, or 0.9%, at 294.83 points with 146 gainers and 90 decliners. Trade volume and value dropped 28% and 31%, respectively, from the previous session, at 167 million shares worth VND2.8 trillion.
FLC's associated firms, trading and food service firm KLF and securities enterprise ART, hit their ceiling prices of VND5,800 and VND11,400, respectively. KLF was the best performer in terms of liquidity on the northern bourse with 18.54 million shares transacted.
Mining group ACM also ended the day at its ceiling price of VND4,400.
Most of blue-chip stocks reported growth, of which petroleum stock PVS inched up 2.2% at VND23,600, securities stock VND increased 2.5% at VND37,100, and lender SHB rose 1.9% at VND196,000.
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