Stocks gain ground

Vietnam’s benchmark VN-Index escalated the second day on May 7 as several stocks jumped on expectation that the gauge would advance further.

The index of 304 companies and five mutual funds listed on the Ho Chi Minh City Stock Exchange levitated 2.1 per cent, or 9.99 points, to close at 486.31 points with 243 gainers, 40 losers, and 26 stocks remaining unchanged.

Trading volume on the city bourse slid by nearly 7 per cent over the previous trading session as more than 100.55 million shares changed hands at a total value of VND1.8 trillion, up 5 per cent over the previous trading session.

Sao Mai Construction Corporation (ASM) was the most active share in volume with 6.56 million shares changing hands.

Tan Tao Investment & Technology Joint Stock Company (ITA) ran after with nearly 2.97 million shares.

Saigon Securities Inc. (SSI), the country’s largest brokerage, came next with 2.96 million shares traded.

Gainers on the city bourse included Lam Dong Minerals & Building Materials Joint Stock Company (LBM), Ninh Van Bay Travel Real Estate Joint Stock Company (NVT), Tien Len Steel Group Joint Stock Company (TLH), Viet Nhat Seafood Corporation (VNH), and Vietnam Electricity Construction Joint Stock Corporation (VNE). They all sprang 5 per cent to close at VND10,500, VND4,200, VND8,400, VND4,200 and VND8,400 respectively.

Viet An Joint Stock Company (AVF) gained 4.97 per cent to close at VND16,900.

Ben Tre Forestry & Aqua Product Import Export Joint Stock Company (FBT) saved 4.96 per cent to close at VND12,700.

Vinaship Joint Stock Company (VNA) dived 4.92 per cent to close at VND5,800.

Chang Yih Ceramic Joint Stock Company (CYC) slumped 4.17 per cent to end at VND2,300.

Water Supply Sewerage Construction & Investment Joint Stock Company (VSI) crashed 4.07 per cent to close at VND9,500.

The VN30 Index - a free-float adjusted, market cap-weighted index of 30 stocks with the highest market value and liquidity on the exchange – climbed 9.8 points, or 1.81 per cent, to end at 552.3. Among its 30 members, 21 stocks rallied, 3 fell, and 6 closed unmoved.

Hanoi’s HNX-Index of the smaller bourse in the north rocketed 3.1 per cent, or 2.52 points, to close at 83.79 points with 295 winners, 41 losers, and 23 stocks treading water. Around 99.38 million shares changed hands at a total value of VND1.1 trillion.

Meanwhile, the UPCoM-Index of unlisted shares inched up 0.03 per cent, or 0.01 points, to close at 35.16 points. A total of 648,399 shares changed hands at VND5.1 billion.

By Thuy Doan

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