VN-Index shoots up despite rising inflation

Vietnam’s benchmark VN-Index unexpectedly rebounded on April 25 as several stocks increased despite rising inflation.

The gauge of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange jumped 2.01 percent, or 9.17 points, to close at 465.62 points.

Of the index, 216 stocks gained, 30 lost, while 43 remained unchanged.

Trading on the city bourse improved by 12 percent in volume and 15 percent in value over the previous trading session as nearly 26.3 million shares changed hands at a value of VND562 billion.

Sai Gon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) topped the list of most active shares in volume with 1.87 million shares changing hands.

It was followed by Saigon Securities Inc. (SSI), the country’s largest brokerage, with 1.21 million shares.

Tan Tao Investment & Technology Joint Stock Company (ITA) ranked third with 1.17 million shares traded.

Godaco Seafood Joint Stock Company (AGD), Cadovimex Seafood Import-Export & Processing Joint Stock Company (CAD), and Licogi 16 Joint Stock Company (LCG) all sprang the daily maximum allowed limit of 5 percent to VND27,300, VND4,200, and VND25,200 respectively.

Construction Joint Stock Company No 5 (SC5) snapped its nine-straight losing streak, recovering 4.98 percent to VND21,100.

Hoang Long Group (HLG) climbed the first time in four days, rising up 4.94 percent to VND8,500.

Savimex Corporation (SAV) dropped 4.95 percent to close at VND30,700.

Materials - Petroleum Joint Stock Company (COM) declined for two straight days, contracting 4.91 percent to VND27,100.

IDICO Infrastructure Development Investment Joint Stock Company (HTI) retreated for four consecutive days, giving up 4.88 percent to VND7,800.

The Hanoi’s HNX-Index of the smaller in the north ended its ten-day losing streak, restoring 1.61 percent, or 1.35 points, to close at 85.27 points. Trading volume on the northern bourse reached 34.5 million shares worth VND billion.

Meanwhile, the UPCoM-Index of unlisted shares rose 0.48 points to 36 points this morning. A total of 63,275 shares changed hands at a value of VND625 million.

By Moc Lan

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