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Index up as money flow still profuse
Thursday,  7/19/2018, 18:58 

Index up as money flow still profuse

By Phuong Thao

HCMC – Banking and property stocks on July 19 encountered high profit taking pressure but the VN-Index of the Hochiminh Stock Exchange still advanced thanks to strong cash flow.

Closing the day, the main index increased a slight 1.58 points, or 0.17%, at 943.97, extending its winning streak to the sixth straight session. The southern bourse saw over 199 million shares worth VND4.5 trillion changing hands, down 11% and 8.5% versus Wednesday, respectively.

VJC, a low-cost airline, jumped 4.1% at VND140,000 a share due to the signing of large aircraft purchase agreement on July 18, and reported matching volume of nearly 1.2 million shares. Leading oil and gas firm GAS added 1.4% at VND84,200 per share for positive business results in the second quarter of 2018 while steelmaker HSG hit the ceiling price of VND11,550 a share.

Meanwhile, all nine listed banks on the HCMC exchange declined. MBB was the volume leader in the banking sector with 7.1 million shares exchanged, followed by CTG with 6.5 million shares and VPB with 5.4 million shares.

Many speculative stocks were hit by a massive selloff, in which property HAG fell 1.1% at VND6,260 a share. The firm led the market for liquidity as its matching volume soared to a three-month high of 21.4 million shares.

Agricultural firm HNG, a subsidiary of HAG, shot up to the upper limit of VND14,400 with 4.4 million shares traded. LDG, another real estate firm, hit the ceiling price in the fifth straight rising session today, closing at VND13,350 per share on volume of 1.8 million shares.

Notably, GTN, a food enterprise, plunged to the floor price of VND9,160 per share, with its volume reaching an all-time high of 12.2 million shares. The firm debuted on the market in October 2014.

The HNX-Index of the Hanoi Stock Exchange broke its five-day rallies with a 1.26% drop to close at 105.58. Trading volume and value on the northern bourse improved slightly to 49.9 million shares worth VND700 billion.

All banks on the market declined, except for NVB that closed unchanged at VND6,900 per share. ACB and SHB fell 2.2% and 1.2% at VND35,400 and VND8,200 a share, respectively, in which ACB was the volume leader with 6.3 million shares exchanged.

The HNX30 basket saw just five stocks rising. VGC, a building material producer, was the best performer for climbing 3% at VND17,400 per share and reported volume of 1.2 million shares.

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