Business

Sugar sweetens VN-Index; Hanoi remains sour

Stocks of sugar producers soared to their ceiling prices on July 19, helping the VN-Index to reach 506.84 points at the close of trading on the HCM Stock Exchange, an overall gain of 0.12 percent.
Stocks of sugar producers soared to their ceiling prices on July 19,helping the VN-Index to reach 506.84 points at the close of trading onthe HCM Stock Exchange, an overall gain of 0.12 percent.

Listed sugar producers saw share prices bump their heads against the topof regulated trading bands, including Lam Son Sugar Co (LSS), Bien HoaSugar Co (BHS), Sucrerie Bourbon Tay Ninh (SBT), Ninh Hoa Sugar Co (NHS)and Gia Lai Sugarcane and Thermopower Co (SEC).

The overallvalue of trades on the HCM City stock market on July 19 dropped7.14 percent from Friday’s session to 1.3 trillion VND (68.4 millionUSD) on a volume of 43.2 million shares. Sacombank (STB) remained as themost active share, with 2.3 million traded.

Without theassistance from sugar stocks or blue chips, shares declined overall onthe Hanoi Stock Exchange on July 19, with the HNX-Index closing offnearly half-a-percent to 160.37 points.

Tradingvolume was approximate to that on the southern bourse, however, with42.4 million shares changing hands. The value of trades on the Hanoimarket reached 1.25 trillion VND (65.8 million USD), with Kim LongSecurities Co the most-active share on a volume of 3.5 million.

Foreign investors was net sellers in Hanoi, selling off100,000 shares worth a combined 7.8 billion VND (410,562 USD).Meanwhile, they continued as net buyers on the HCM Stock Exchange by anet of 780,000 shares worth 52.8 billion VND (2.8 million USD)./.
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