Shares end week up in southern bourse

Hanoi (VNA) - Shares concluded the final week of August on a positive note on the HCM Stock Exchange, with the benchmark VN-Index expanding 0.76 percent to close on September 1 at 788.73 points.

Heavyweight shares continued to support the market, with consumer goods leading the way.

Dairy giant Vinamilk and brewery Sabeco, the two biggest listed firms on the southern bourse by market value, gained 2.1 percent and 1.4 percent, respectively. Vinamilk’s outstanding shares accounted for 10.96 percent of total market capitalisation while the number for Sabeco was 8.13 percent.

Meanwhile, the biggest listed energy firm PV Gas rose 1.44 percent.

Sixteen of the top 30 largest shares by market value and liquidity (VN30) advanced and 10 declined.

Many sectors witnessed large divergences.

In the banking sector, Vietcombank and BIDV gained but Military Bank and Sacombank tumbled. In the construction and real estate industry, Kinh Bac City Development and HCM City Infrastructure Investment slumped while VinGroup and Novaland Investment Group perked up.

According to BIDV Securities Co (BSC), although today the VN-Index increased, liquidity was significantly lower than the previous session.

Though the VN-Index has successfully tested short-term resistance at 785 points, contrary to the previous session when cash tended to flow back into leading stocks, cash on September 1 significantly weakened in the VN30, bank and real estate shares, BSC wrote in the September 1 report.

“The uptrend today was partially contained in the resistance zone as well as affected by the psychology of the holiday,” the report said.

The VN-Index increased four out of five total sessions this week with combined growth of 2.2 percent.

Speculative stocks performed unexpectedly well after several bearish sessions, with popular stocks such as FLC Group, Ocean Group, FIT Group, HAI Agrochem and Hoang Quan Consulting-Trading-Service Real Estate leading the market by trading volume with several millions to more than ten million shares traded.

These stocks closed up 1.5-6.7 percent each.

On the Hanoi Stock Exchange, without the aid of large-cap stocks, the HNX-Index inched down 0.07 percent to 103.81 points.

Only 181.6 million shares worth total 3.6 trillion VND (158.6 million USD) were traded in the two markets, down 35 percent in volume and 31.4 percent in value compared to the previous day’s figures.-VNA