VN-Index regains as investors seek for bargains

The Vietnam’s benchmark VN-Index rebounded the first time in three days on June 7 as several stocks advanced on bargain hunting.

The shares of 284 companies and five mutual funds listed on the Ho Chi Minh Stock Exchange revived 2.28 percent, or 9.87 points, to close at 443.68 points.

Of the index, 221 stocks advanced, 38 declined, while 30 remained unchanged.

Trading on the city bourse rose by 40 percent in volume and 53 percent in value over the previous trading session as 31.8 million shares changed hands at a value of VND642 billion.

Saigon Securities Inc. (SSI), the country’s largest brokerage, stayed at the position of most active share by volume with 3.7 million shares changing hands.

Ho Chi Minh City-based Refrigeration Electrical Engineering Corporation (REE) climbed to the second rank with 1.49 million shares traded.

Saigon Thuong Tin Joint Stock Commercial Bank or Sacombank (STB) came in third with 845,560 shares.

Gainers on the city bourse included Thanh Cong Textile Garment Investment Trading Joint Stock Company (TCM), Binh Duong Trade - Development Joint Stock Company (TDC), and Transforwarding Warehousing Joint Stock Corporation (TMS). They all shot up the daily maximum allowed limit of 5 percent to VND14,700, VND8,400, and VND21,000 respectively.

Thien Long Group Corporation (TLG) snapped its three-day winning streak, closing down 4.96 percent to VND24,900.

Cuong Thuan IDICO Development Investment Corporation (CTI) tripped 4.95 percent to VND26,900.

Khang An Investment Real Estate Joint Stock Company (KAC) slid for four consecutive days, eroding 4.86 percent to VND17,600.

The Hanoi’s HNX-Index of the smaller in the north also strongly recovered, adding up 3.38 percent, or 2.49 points, to close at 76.09 points. Trading volume significantly improved over the previous trading session as 37.9 million shares worth VND434.35 billion changed hands.

Meanwhile, the UPCoM-Index of unlisted shares slipped 0.13 points to 32.55 points this morning. A total of 243,330 shares changed hands at a value of VND1.78 billion as of 11:10 am local time.

By Da Nguyet

Other news