Local buying lifts up markets

The Vietnam’s benchmark VN-Index unexpectedly rebounded on June 9 as several penny-chip stocks advanced on speculation that the uptrend returned to the market.

The shares of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange reclaimed 1 percent, or 4.38 points, to close at 443.95 points.

Of the index, 137 shot up, 70 receded, while 82 remained unchanged.

Trading on the city bourse fell by 11 in volume and 8 percent in value over the previous trading session as 33.5 million shares changed hands at a value of VND573 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, continued to lead the list of most active shares by volume with 2.76 million shares changing hands.

It was followed by Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) with 1.19 million shares traded.

Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) came next with 976,020 shares changing hands.

Construction company Lilama 18 Joint Stock Company (LM8), Transforwarding Warehousing Joint Stock Corporation (TMS), and Taya Vietnam Electric Wire and Cable Joint Stock Company (TYA) were the biggest losers on the city bourse today. They all plunged the daily maximum allowed limit of 5 percent to VND11,400, VND20,900, and VND3,800 respectively.

Dong Thap Trading Corporation (FDG) shrank 4.97 percent to close at VND17,200.

Manulife Progressive Fund (MAFPF1) and DESCON Industry Construction Corporation (DCC) both erased 4.76 percent to VND4,000 and VND16,000 respectively.

An Pha Petrol Joint Stock Company (ASP) and South Logistics Joint Stock Company (STG), extended its winning streak to six and eight days respectively, accelerating 5 percent to VND6,300, and VND23,100 respectively.

Hoang Long Group (HLG) and Gia Lai Sugar - Thermal Power Joint Stock Company (SEC) built up 4.96 percent to VND12,700, and VND27,500 respectively.

Viet - Han Corporation (VHG) climbed the third day, gaining 4.94 percent to VND8,500.

The Hanoi’s HNX-Index of the smaller in the north also salvaged 2.33 percent, or 1.76 points, to close at 77.39 points. Trading volume severely reduced over the previous trading session as 54.7 million shares worth VND664.67 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares inched up 0.21 points to 32.61 points this morning. A total of 118,300 shares changed hands at a value of VND1 billion.

By Mai Tuyet

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