VN-Index lifts up on blue-chips

Vietnam’s benchmark VN-Index reversed previous losses on March 1 as blue-chip stocks advanced whereas liquidity fell on poor confidence.

The gauge of 280 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange rebounded 1.03 percent, or 4.75 points, to close at 466.12 points.

Among the index members, 71 rallied, 139 dropped, while 75 were unmoved.

Trading volume on the city bourse was down 29 percent from the previous day to 24.21 million shares worth VND584 billion, down 24 percent, this morning.

Saigon Securities Inc. (SSI), the country’s largest brokerage, continued to win the race for the spot of most active share in volume with 1.82 million shares changing hands.

Vietnam Mechanization Electrification & Construction Joint Stock Company (MCG) came next with 907,480 shares.

Refrigeration Electrical Engineering Corporation (REE) took the third rank with 856,150 shares traded.

Vietnam Golf Tourism Joint Stock Company (VNG), which had been unchanged for three days in a row, was the biggest gainer on the southern bourse today, leaping forward the daily maximum allowed limit of 5 percent to VND16,800.

Ngo Han Joint Stock Company (NHW) revived 4.94 percent to close at VND17,000.

Bao Viet Holdings (BVH) snapped its six-consecutive-day losing streak, strengthening 4.9 percent to VND75,000.

Hanoi Maritime Holding Company (MHC) declined for second day, eroding 5 percent to VND5,700.

Materials - Petroleum Joint Stock Company (COM) dipped 4.88 percent to VND31,200.

Sai Gon Telecommunication & Technologies Corporation (SGT) dumped 4.85 percent to close at VND9,800.

The losing momentum on the smaller bourse in the north lingered, sending the Hanoi’s HNX-Index down 0.79 percent, or 0.76 points, to close at 95.16 points. Trading volume just accounted for 60 percent of that of the previous session as 20.9 million shares changed hands at a value of VND331.84 billion.

Meanwhile, the UPCom-Index stalled at 40.23 this morning. A total of 70,000 shares changed hands at a value of VND820 million by lunchtime.

By Thuy Doan

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