VN-Index to Reach 1,100

Increasing number of sell orders and share price adjustment made the VN-Index gain a humble 15.09 point to 1,099.48. However, this increase was quite impressive as it pushed the VN-Index almost up to 1,100.

Real estate companies kept gaining more attention from investors as Sudico (SJS) and Vincom (VIC) both rose limit up while continuing to enjoy another successful transaction.

VIC was at VND172,000 in today’s session but with orders to sell 888,000 shares went begging, it may soon reverse course.

The news of Song Da Urban & Industrial Zone Development and Investment Joint Stocks Company’s high profit in the third quarter of this year helped SJS have the fourth consecutive time of rising limit up at VND310,000.

Vinh Son Hydropower (VSH) also rose limit up to VND61,000 while FPT Corporation (FPT) added VND10,000 to close at VND300,000.

VN-Index is still rising with more increase in share prices. However, at the same time, it also showed sign of reversing course with the top cap Sacombank (STB) shedding VND1,000 to close at VND69.500.

In likewise fashion, REE Technology (REE), Schenker-Gemadept Logistics (GMD), Thuduc House (TDH) dropped VND1,000.

Number of sell orders of STB and REE remained high with 2.65 million of STB and 500,000 of REE sold in today’s session, keeping them from raising prices.

The newly-set record at the southern exchange yesterday was once again broken with an astonishing 17.3 million shares worth VND1,772 billion changed hands.

The Ha Noi bourse also set a new record with 7.13 million shares worth VND774.25 billion changed hands.

The above figure showed that the stock market is in great demand for shares and whether the price adjustment happens or not, investors are still keen on share purchasing. 

By Ba Tan, Cat Tri – Translated by Khanh Hong

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