STOCKS ADVANCE AMID STRONG CASH FLOW

Despite the profit taking pressure, the VN-Index of the Hochiminh Stock Exchange continued its upward spiral and gained 12.08 points at the close on January 5, buoyed by active cash flow.

With 277 winners and 166 losers, the main index added 1.08% from the session earlier at 1,132.55 points. Trade volume totaled over 763.4 million shares worth VND16.2 trillion. Over 53.2 million shares valued at VND1.4 trillion were traded in block deals.

Many large-cap stocks ended in positive territory, with retailer VRE soaring by 5.2% and tech giant FPT improving 4.2%, contributing to driving up the main index.

Among bank stocks, CTG and BID lost ground and EIB stood at the reference price, while the remaining stocks in the group were winners. Lenders LPB and VIB hit their upper limits.

Lender MBB led the southern bourse by liquidity with over 34 million shares traded, while bank stock LPB also attracted cash flow and saw over 24 million shares change hands.

Industrial zone developer ITA was the second most actively traded stock on the southern bourse with a matching volume of over 30 million shares and closed the day up 5.5%.

Among small and medium stocks, good performers were securities firm AGR, shipping firm VOS and TDC, which is active in the building materials sector.

High demand for large-cap stocks pushed up the HNX-Index of the Hanoi Stock Exchange to close up 1.85 points, or 0.9%, from the session earlier, at 208.13. There were over 168 million shares worth VND2.4 trillion changing hands, up 59% in volume and 63% in value against the day earlier.

Finishing the session up 2.9%, lender SHB was the most actively traded stock on the northern market with 22 million shares exchanged.

Bank stock NVB, securities firms MBS and BVS and property firm CEO maintained their growth momentum.

Source: The Saigon Times