VN-Index recovers, driven by large-cap stocks

Vietnam’s benchmark VN-Index rebounded from a two-month low on October 20 as blue-chip stocks recovered amid poor cash flow.

The measure of 297 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange restored 0.64 percent, or 2.58 points, to close at 403.73 points.

Of the index, 109 stocks gained, 90 declined, while 90 remained unchanged.

Trading on the city bourse was down by 24 percent in volume but up 12 percent in value over the previous day as 18.6 million shares changed hands at a total value of VND414 billion.

Becamex Infrastructure Development Joint Stock Company (IJC) remained on the spot of most active share in volume with 745,750 shares changing hands.

Saigon Securities Inc. (SSI) followed with 547,170 shares traded, tagged along by Hoang Quan Consulting - Trading - Service Real Estate Corporation (HQC) with 501,880 shares.

Lix Detergent Joint Stock Company (LIX) and Vinaship Joint Stock Company (VNA) both rebounded the daily maximum allowed limit of 5 percent to VND31,500, and VND6,300 respectively.

Hamico Mineral Group (KSH) rallied the second day, emerging 4.98 percent to VND23,200.

Tây Bắc Minerals Investment Joint Stock Company (KTB) surged 4.95 percent to VND29,700.

Viet Nhat Seafood Corporation (VNH) sank 5 percent to close at VND3,800.

Materials - Petroleum Joint Stock Company (COM) and Saigon Beer Transportation Joint Stock Company (SBC) both slid 4.86 percent to VND33,300, and VND13,700 respectively.

Lu Gia Mechanical Electric Joint Stock Company (LGC) and Sai Gon Vien Dong Technology Joint Stock Company (SVT) moved backwards 4.76 percent to VND20,000, and VND10,000 respecitvely.

Meanwhile, the Hanoi’s HNX-Index of the smaller bourse in the north gave up 0.31 percent, or 0.21 points, to finish at 67.72 points. Around 19 million shares changed hands at a value of VND193.63 billion, the lowest level since August.

The UPCoM-Index of unlisted shares jumped 1.51 percent, or 0.45 points, to 30.25 points at 2:15 pm local time. A total of 114,362 shares changed hands at a value of VND743 million.

By Thuy Doan

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