VN-Index recovers, led by large-cap stocks

Vietnam’s benchmark VN-Index unexpectedly rebounded thanks to support from some blue-chip stocks on September 15 amid investors continued to sell stocks to lock in gains.

The gauge which tracks 295 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange shot up 0.79 percent, or 3.68 points, to close at 470.67 points.

Among the index members, 71 climbed, 163 retreated, while 66 remained unmoved.

Trading on the city bourse dropped by 12 percent in volume and nearly 1 percent in value over the previous day as around 70.57 million shares changed hands at a value of VND1.27 trillion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, led the list of most active shares in volume with 2.45 million shares changing hands.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) followed with 1.98 million shares traded.

Sacom Development & Investment Corporation (SAM) came next with 1.88 million shares.

COMA 18 Joint Stock Company (CIG), Becamex Infrastructure Development Joint Stock Company (IJC), and Vinacafé Bien Hoa Joint Stock Company (VCF) was the biggest winners on the city bourse today. They all jumped the daily maximum allowed limit of 5 percent to VND6,300, VND10,500, and VND94,500 respectively.

FPT Corporation (FPT) capped its four-day losing streak, reviving 4.95 percent to VND53,000.

International Development & Investment Corporation (IDI) advanced for four consecutive days, speeding up 4.9 percent to VND10,700.

Descon Construction Corporation (DCC), HAI Agrochem Joint Stock Company (HAI), and Hacisco Joint Stock Company (HAS) all slumped 5 percent to VND9,500, VND20,900, and VND5,700 respectively.

Vitranschart Joint Stock Company (VST) subtracted 4.84 percent to VND5,900.

Lam Dong Minerals & Building Materials Joint Stock Company (LBM) removed 4.82 percent to VND7,900.

Meanwhile, the Hanoi’s HNX-Index of the smaller bourse in the north plummeted 1.24 percent, or 0.96 points, to finish at 76.37 points. Trading on the northern floor fell by 32 percent in volume and 31 percent in value over the previous day as 64.65 million shares changed hands at a value of VND727.45 billion.

The UPCoM-Index of unlisted shares also dipped 0.66 percent, or 0.21 points, to 31.51 points. A total of 227,426 shares changed hands at a value of VND1.38 billion at 2:10 pm local time.

By Gia Han

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