VN-Index surges eighth day to four-week high

Stock markets always know how to surprise investors, especially Vietnam’s stock market for advancing for eight consecutive trading sessions amid an unprecedented low cash flow.

Stocks on Ho Chi Minh City Stock Exchange prolonged their winning run to the eighth day, sending Vietnam’s benchmark VN-Index to a four week low on January 18.

The gauge of 301 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange advanced 1.06 percent, or 3.8 points, to close at 362.66 points.

Among the index members, 142 climbed, 65 dropped, while 99 remained unchanged.

Trading volume on the city bourse fell by 24 percent over the previous day as 18.12 million shares changed hands at a value of VND347 billion, almost unchanged from the previous day.

The fourth largest listed bank Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) was the most active share in volume with 778,150 shares changing hands.

Na Ri Hamico Mineral Joint Stock Company (KSS) followed with 736,680 shares traded.

Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) came in third with 614,710 shares.

Meca Vneco Investment & Electricity Construction Joint Stock Company (VES) grew 7.14 percent to close at VND1,500.

Other big gainers included Binh Dinh Minerals Joint Stock Company (BMC), Binh Thuan Hamico Mineral Joint Stock Company (KSA), and National Seed Joint Stock Company (NSC).

Ninh Hoa Sugar Joint Stock Company (NHS) sank for six straight trading sessions, giving up 8.49 percent to close at VND24,800. The company will issue 2,025,000 shares to its current shareholders at a ratio of 4:1 and a price of VND10,000 per share.

Basa Joint Stock Company (BAS) shrank 7.14 percent to close at VND1,300.

South Vietnam Container Shipping Joint Stock Company (VSG) contracted 6.67 percent to finish at VND1,400.

Hanoi’s HNX-Index of the smaller bourse in the north also rebounded 1.18 percent, or 0.67 points, to close at 57.22 points. Around 15.12 million shares changed hands at a total value of 128.11 billion.

The UPCoM-Index of unlisted shares added up 0.12 percent, or 0.04 points, to close at 33.66 points. A total of 89,500 shares were traded at VND312 million.

By Phong Linh

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