VN-Index soars to 945 points

The VN-Index of the Hochiminh Stock Exchange jumped for a third day today, closing up 0.82% over the previous session at 945.25 points, buoyed by strong demand.

As profit-taking pressure hit some large stocks on the southern bourse in the morning, the benchmark VN-Index edged up slightly. However, thanks to the increased demand, the index rallied later to close at the highest level of the day, with 193 stocks advancing and 100 others declining.

Trade on the market rose by 14% in volume and 18.9% in value against the previous session to more than 215.2 million shares and roughly VND5 trillion. The bourse saw some 39 million shares worth over VND1.2 trillion changing hands.

Among the top 10 stocks by market capitalization, property developer VIC and brewer SAB slightly slid, while lender CTG and housing developer VHM moved sideways.

The other major stocks were in positive territory. For example, consumer goods producer MSN soared 4.37% to close the day at its highest price of VND85,900 per share with matching volume of over 1.3 million shares. Also, leading gas firm GAS advanced 2.2% at VND93,000 while lender VCB jumped 2.05% at VND59,800.

In addition to the top 10 basket, other blue chips such as VRE, another associated firm of VIC, insurer BVH and leading fuel distributor PLX recovered. Notably, steel maker HPG became the volume leader with around 11 million shares traded at VND30,900, a 4.75% rise against a day earlier.

Most lenders made modest gains today, except for EIB which added 2.78% at VND18,500 and STB which closed unchanged.

Among small stocks, leading steel maker HSG went up to its ceiling price of VND7,440 with 8.4 million shares traded.

Despite encountering numerous difficulties in the morning, the HNX-Index of the Hanoi Stock Exchange inched up 0.45 point, or 0.42%, against the previous day at 106.49 points.

Trading volume on the northern bourse slipped 14% at 30.97 million shares, and its value fell by 9% at some VND405 billion. The local put-through market witnessed a mere 100,000 shares changing hands with a total value of VND2.5 billion.

Lender ACB, the top heavyweight on the market, returned to its reference level while its fellow SHB moved flat and took the lead by liquidity with more than 6.7 million shares transacted.

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