Stocks recover on rising demand

Vietnam’s benchmark VN-Index highly recovered on August 22 as most blue-chip stocks rallied on speculation that the central would cut interest rate and stocks’ values are attractive.

The measure of 295 companies and five closed-end funds listed on the Ho Chi Minh City Stock Exchange restored 1.32 percent, or 5.27 points, to close at 406.03 points.

Of the index members, 216 stocks advanced, 34 retreated, while 50 remained unchanged.

Trading on the city bourse rose by 16 percent in volume and 10 percent in value as around 31.36 million shares changed hands at a value of VND474 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, topped the list of most active shares by volume with 2.65 million shares traded.

Ho Chi Minh City-based Refrigeration Electrical Engineering Corporation (REE) took the second place with 2.09 million shares, followed by Sacom Development & Investment Corporation (SAM) followed with 1.57 million shares changing hands.

Viky Plastic Joint Stock Company (VKP) rebounded 5.56 percent to finish at VND1,900.

Other gainers on the city bourse included Vietnam Petroleum Transport Joint Stock Company (VIP), Viet Thang Feed Joint Stock Company (VTF), and Song Da Urban & Industrial Zone Investment & Development Joint Stock Company (SJS).

Ho Chi Minh City Securities Corporation (HCM) nosedived 13.97 percent to close at VND15,400. The company will issue 39,884,948 shares with a ratio of 3:2 and a price of VND10,000 per share.

Water Supply Sewerage Construction & Investment Joint Stock Company (VSI) tumbled 12.31 percent to VND5,700. The company will pay dividends for the first term of this year to its current shareholders in cash at a ratio of 5 percent on September 12. 

Ben Tre Forestry & Aqua Product Import Export Joint Stock Company (FBT) sank 5 percent to VND7,600.

The Hanoi’s HNX-Index of the smaller bourse in the north hopped 3.54 percent, or 2.39 points, to finish at 69.92 points. Trading on the northern floor slightly fell over the previous day as 34.1 million shares changed hands at a value of nearly VND363.5 billion.

The UPCoM-Index of unlisted shares edged up 0.32 percent, or 0.1 points, to 31.17 points. A total of 87,100 shares changed hands at a value of VND443 million as of 2 pm local time.

By Uyen Nhi

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