Sunday, August 20, 2017 - 11:21:39

Bank shares back market up

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Stock markets turned back to recovery on May 28 as bank shares had an impressive performance.

On the Hochiminh Stock Exchange, all bank shares rose, particularly Eximbank (EIB) that reached its ceiling price at 13,200 VND. With 6.5 million of its shares traded, Military Bank (MBB) ranked fourth among the most active codes.

Gas stocks also contributed to the market's recovery. While PetroVietnam Gas JSC gained 1.6 percent, many smaller gas stocks also recorded good performances, with Idico-Petroleum trading Construction Investment JSC (PXL) hitting the ceiling price at 3,400 VND.

Securities shares also increased. Bao Viet Holdings (BVH) increased by 1.37, Saigon Securities Incorporation (SSI) by 2.58 percent, and HCM City Securities Corporation (HCM) by 1.4 percent.

FLC Group (FLC) and Ocean Group JSC (OGC) extended their recovery by reaching their ceiling prices at 9,500 VND and 2,700 VND, respectively. FLC was also the most active code on the market, trading more than 25.5 million shares.

On the southern bourse, the VN-Index gained 1.15 percent to finish at 572.97 points. The VN30 Index, covering 30 largest shares on the market in terms of liquidity and market value, surged 0.75 percent to stand at 594.27 points.

In this basket, the number of decliners was half the number of advancers, 72 to 149.

Meanwhile, market liquidity rose sharply from the previous session’s figure. Overall, the market traded nearly 151.8 million shares worth 2.31 trillion VND (107 million USD), an increase of 31.8 percent.

On the Hanoi Stock Exchange, the HNX-Index edged up 2.36 percent to reach 83.65 points. Of all the stocks, the number of gainers doubled that of decliners by 139 to 70.

The HNX30 Index sharply rose by 2.95 percent. With 24 gainers, the situation on the northern bourse was greater, while the number of losers was only three.

Large-cap shares also drove the northern market up, just like the southern market.

Like the southern stock market, bank shares helped the northern market up. Asia Commercial Bank (ACB) and Saigon-Hanoi Bank (SHB) rose by 6.11 percent and 6.49 percent, respectively.

Saigon-Hanoi Securities JSC (SHS) touched its ceiling price at 8,300 VND and traded 2.4 million shares.

The market also received support from gas stocks as most of the gas shares improved, including PetroVietnam Construction Joint Stock Corporation (PVX) that gained 2.5 percent and Petroleum Technical Services Corporation (PVS) that gained 0.78 percent.

KLF Joint Venture Global Investment Co (KLF) remained the most active stock by trading 10 million shares and up 4.05 percent to 7,700 VND.

On the market, nearly 72 million shares were traded for a total value of 780.8 billion (36 million USD), an increase of 38.4 percent.

However, foreign investors reduced their total net buy value by one-third to 51.8 billion VND (2.4 million USD).-VNA
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