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Investor confidence helps stock market rebound strongly
Thursday,  1/21/2021, 18:24 

Investor confidence helps stock market rebound strongly

The Saigon Times

Traders are at work at HSC Securities Corporation in HCMC. The local stock market rebounded strongly today as investor confidence grew – PHOTO: THANH HOA

HCMC – The local stock market rebounded strongly today, January 21 as optimistic sentiment led to more buying activity, sending numerous stocks soaring.

The benchmark VN-Index of the Hochiminh Stock Exchange surged 2.6%, or 29.53 points, against the session earlier to close at 1,164.21 points. The number of rising stocks was over 10 times higher than that of decliners, with 425 gainers, including 57 stocks shooting up to the ceiling prices, and only 42 decliners.

There were more than 777.8 million shares worth nearly VND17.5 trillion changing hands, falling 7% in volume and 2% in value compared with the previous session.

Among bluechips, retailer VRE, brewery SAB and lender EIB were the only decliners, falling less than 1%.

Financial service provider TCH was the biggest gainer, shooting up to the ceiling price at VND36,500.

Other major contributors included steelmaker HPG and lenders VPB and MBB, which soared 6% to VND44,200, 5.8% to VND36,200 and 5.7% to VND25,800, respectively. Real estate developer NVL and lender STB also increased over 5%.

Lenders CTG and VCB, securities corporation SSI, tech firm FPT and petroleum stock PLX rose over 3%. Mobile phone retailer MWG, lender BID, jewelry company PNJ, electricity firm POW and sugar producer SBT rose between 1.8-2.6%.

In the group of small and medium stocks, many stocks such as ROS, HQC, FLC, DXG, KBC, PVT, DLG, AMD, TGG, HBC, KDC, AGR and VOS shot up to the ceiling prices.

Lender STB led the southern market by liquidity with more than 34.7 million shares changing hands, followed by construction enterprise ROS with 31.7 million shares.

Steelmaker HPG, real estate stock HQC and property group FLC also had good liquidity, with over 20 million shares traded each.

On the Hanoi Stock Exchange, the HNX-Index added 3.01%, or 7.02 points, to end at 240.27 points, with winning stocks far outnumbering losers by 157 to 62. There were more than 132.5 million shares worth some VND2 trillion changing hands on the northern bourse.

Many stocks, both large and small, became cash magnets and moved up to the ceiling prices such as KLF, ART, TNG, DST, CEO, IDJ, ACM, MBG, FID, VIG, TTH, PVL, BII and MPT.

Other biggest gainers were service company THD and insurer PVI, which were both up 6% to VND169,000 and VND35,500, respectively. Petroleum stock PVS and bank stock NVB increased over 3%.

Lender SHB took the lead in terms of liquidity, with more than 22 million shares changing hands. Property group HUT came second with 12.3 million shares transacted.

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