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Blue chips help VN-Index surpass 500
Blue chip rallies helped stocks rise for the sixth day at the HCM City Stock Exchange. The VN-Index surpassed 500 points to close at 505.91, a rise of 1.7 per cent.
The trading volume was 42.9 million shares, totalling over VND1.1 trillion (US$52.4 million) in value.
About 17 stocks matched their ceiling price, with the biggest riser Bao Viet Holding's (BVH) putting on VND4,500. Following were Masan Group (MSN) up VND4,000, Dry Cell & Storage Battery Co (PAC) up VND2,500 and Phu My Fertiliser (DPM) up VND1,900.
Among the 101 losers, eight sank to their floor price, including Vinpearl Land (VPL) down VND2,600, Vien Dong Pharmaceutical (DVD) down VND1,900, Sao Vanf Rubber (SRC) down VND1,600 and House Viet Nam (NVN) and Lu Gia Mechanical Electric (LGC) down VND1,400.
Analysts of Sacombank Securities said that surpassing 500 points in the VN-Index, based on the peformance of BVH and MSN rallies, would help create a technical, long-term recovery.
Hence, confidence might turn stronger, they said.
In Ha Noi, the HNX-Index fell for the second day, edging down by 0.18 per cent to 107.27 points.
Losers outnumbered gainers by 173-96. Thirteen stocks fell to the floor, with Ha Long Viglacera (VHL) falling the most, down VND3,800; West Coach Station (WCS) down VND3,200, Cai Lay Veterinary Pharmaceutical (MKV) down VND1,600 and CMC Investment Co (CMC) down VND1,400.
The volume of the northern bourse was low at 22.8 million shares, worth VND434.4 billion ($20.7 million).
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