Hnx – VietNam Breaking News

VN-Index hits new peak on strong cash flow

The Saigon Times

An investor watches stock information on the computer. Strong cash flow into bank and steel stocks pushed the VN-Index of the Hochiminh Stock Exchange up today, June 18, to its record of 1,377.77 points – PHOTO: VNA

HCMC – Strong cash flow into bank and steel stocks pushed the VN-Index of the Hochiminh Stock Exchange up today, June 18, to a new record of 1,377.77 points.

At the close, the main index jumped by 17.85 points, or 1.31%, against the day earlier, with 249 winners and 138 losers. Trade volume totaled over 809 million shares worth VND23.7 trillion, up over 5% in both volume and value from the previous session.

Over 58 million shares valued at VND2.8 trillion were traded in block deals.

In the group of bank stocks, HDB, EIB, BID, MBB and TCB were in positive territory, while lender VCB made a strong rise and reported a matching volume of over 3.2 million shares.

Housing developer VHM was among key drivers of the southern bourse, improving 3.2% at the close.

Among the steel stocks, TLH and SMC shot up to their ceiling prices, while NKG, POM and HSG soared by 2.9%-5.2%.

Many small and medium stocks also became cash magnets and moved up at the end, with property group FLC maintaining its growth momentum and closing up 3.1%. FLC became the most actively traded stock on the southern market with 53 million shares traded.

Financial firm FIT was also one of biggest gainers, rising by 2% and reporting a matching volume of 30 million shares.

With 109 gainers and 84 decliners, the HNX-Index of the Hanoi Stock Exchange stood at 318.73 points at the close, inching up a slight 0.52% from the session earlier.

Among the bank stocks, NVB ended at the reference price, while SHB and BAB made a mild rise. Lender SHB also took the lead on the northern bourse by liquidity, with 16.7 million shares changing hands.

Other largecaps such as securities companies SHS and MBS and service company THD finished the day up and contributed to the growth of the index, while many steel stocks were among the best performers.

The index gradually climbed throughout the day to close with a near 18-point gain, the highest of the past five sessions. It has risen nearly 25 percent this year.

Trading value on the Ho Chi Minh Stock Exchange (HoSE), on which the index is based, rose 5.4 percent to VND23.7 trillion ($1.03 billion). The bourse saw 249 tickers gain and 138 lose.

Foreign investors turned net buyers on the main bourse to the tune of VND646 billion, the highest since April 9. Strongest buying pressure was seen in PDR of Phat Dat Real Estate Development and HSG of steelmaker Hoa Sen Group.

The VN30 basket, comprising the 30 largest capped stocks, saw 22 tickers in the green, led by TCH of real estate company Hoang Huy Investment Financial Services with 5.9 percent.

It was followed by VCB of state-owned lender Vietcombank, up 4.1 percent to a new peak. The ticker contributed most to VN-Index’s gain this session, pushing it up by 4.4 points.

MSN of conglomerate Masan Group rose 3.4 percent. It is still struggling to return to its previous peak on May 26.

Other strong gainers include VHM of real estate giant Vinhomes, up 3.2 percent, and PNJ of Phu Nhuan Jewelry, up 2.6 percent.

On the losing side BVH of insurance company Bao Viet Holdings led with a 1.6 percent drop, followed by GAS of state-owned Petrovietnam Gas, down 1.3 percent.

The HNX-Index for stocks on the Hanoi Stock Exchange, home to mid and small caps, rose 0.52 percent while the UPCoM-Index for the Unlisted Public Companies Market added 0.75 percent.