Speculative stocks fly high amid market rally
The Saigon Times
|Investors watch stock prices on electronic boards at a securities company in HCMC. The VN-Index of the Hochiminh Stock Exchange reversed course to close up 0.25% today, June 17 – PHOTO: VNA|
HCMC – The VN-Index of the Hochiminh Stock Exchange reversed course to close up 0.25% today, June 17, supported by many bluechips and speculative stocks.
Market breadth turned positive as winning stocks outnumbered losers by 219 to 165. The main index inched up 3.4 points, from the session earlier, at 1,359.92 at the close. Over 768 million shares worth VND22.5 trillion changed hands, down 4% in value against the previous session.
Block deals totaled over 56 million shares valued at VND2.3 trillion.
Cash flow ran strongly into small and medium stocks, with property group FLC hitting the ceiling price. FLC also took the lead on the southern bourse by liquidity with over 50 million shares traded, followed by construction firm ROS, which reported a matching volume of 33 million shares.
Many other speculative stocks such as AAA, DLG, APG, VOS, LSS and VDS were among the best performers.
In the VN30 basket, 14 stocks gained steam, with sugar maker SBT closing the day at the ceiling price.
Other contributors to the rally of the main index were refrigeration electric engineering corporation REE, lender MBB and power corporation POW, rising 5.4%, 3.1% and 2.9%, respectively.
On the northern bourse, the HNX-Index hit its intraday high of 317.07 points at the close, up 3.42 points, or 1.09%, against the previous session, with 120 gainers and 73 decliners.
Lender SHB ended a three-day losing streak and added 0.74%, also becoming the most actively traded stock on the northern market, with 30 million shares changing hands.
Other stocks such as lender NVB, investment and trading company TNG and securities firm VND were in positive territory.