Bank stocks cooled down on Wednesday but the benchmark VN-Index still hit a new 10-year peak at 802.78 points, equivalent to an increase of 0.36 percent over the previous session.
Investor during trading session at the Alpha Securities Company Jsc in Hanoi. (Photo: VNA)
Hanoi (VNA) – Bank stocks cooled down on Wednesday but thebenchmark VN-Index still hit a new 10-year peak at 802.78 points, equivalent toan increase of 0.36 percent over the previous session.
This was also the highest level since February 15, 2008.
The market breadth was positive on the HCM Stock Exchange with 175 stocksrising, 99 falling and 69 closing unchanged.
Large-cap stocks were the main support with 18 of the top 30 largest shares bymarket value and liquidity on the exchange gaining value while nine slumped.
Gainers on September 13 expanded to a wide range of sectors, from steelindustry, retail, food-beverage and energy.
Hoa Phat Group (HPG), the biggest listed steelmaker, topped advancers, up 4.1percent at 36,900 VND (1.63 USD) a share. With nearly six million shareschanging hands, the shares were among the top 5 most active stocks by marketvolume.
Another steel company Hoa Sen Group (HSG) also increased 1.3 percent. Bigenergy firms such as PV Gas (GAS), PetroVietnam Drilling and Wells Service(PVD) and Petrolimex (PLX) were up 0.9 percent, 2.3 percent and 1.8 percent,respectively.
Realty stocks saw divergence. Big companies such as VinGroup (VIC), NovalandInvestment Group (NVL) and Kinh Bac City Development (KBC) dropped between1-2.4 percent, smaller firms including Sacomreal (SCR), Khang Dien Investment& Trading House (KDH), Phat Dat Real Estate Development (PDR) and Dat XanhReal Estate Service & Construction (DXG) climbed 1-4 percent.
Banks cooled down when three of seven listed lenders advanced, three ended flatand one declined. Three banks maintaining growth yesterday included VietnamProsperity Bank (VPB), Sacombank (STB) and Eximbank (EIB).
On the Hanoi Stock Exchange, the HNX-Index was up 0.68 percent at 104.43points.
Despite September 13’s rally, many analysts have warned that liquidity barelyimproved so the market needs more signals to confirm a steady uptrend.
A total of 189.5 million shares worth nearly 4.5 trillion VND (198.2 millionUSD) were traded in the two markets on September 13, down 3 percent in volumeand almost unchanged in value compared to September 12’s figures.
These levels were also lower than the daily trading volume of 250-300 millionshares and value of 5-6 trillion VND per session in the past rallies.-VNA
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Investor during trading session at the Alpha Securities Company Jsc in Hanoi. (Photo: VNA)
