Stocks bounce back on strong cash flow
Investors watch stock information at a securities firm. The benchmark VN-Index of the HCMC market bounced back and set a new high today, May 28. – PHOTO: TNO
HCMC - Many stocks in the banking and securities sectors expanded sharply and enabled the benchmark VN-Index of the HCMC market to bounce back and set a new high today, May 28.
Entering the morning phase, the main index quickly recovered from a losing session yesterday, thanks to strong cash flow. However, a system error hindering trade on the southern bourse that has haunted investors over the past week again returned in the afternoon phase, bringing trading on the bourse almost to a standstill for the rest of the session.
At the close, the VN-Index increased 16.89 points, or 1.3% over the session earlier at 1,320.46, with 290 winners and 124 losers. Turnover on the southern bourse inched up 4.89% in volume and 2.95% in value at nearly 768.85 million shares and over VND24.7 trillion, including more than VND1.3 trillion worth of shares transacted in block deals.
Bank stocks stole the limelight as many of them made strong gains. Of them, STB soared 6.9% to its ceiling price and led the southern bourse by liquidity with 73.84 million shares traded. LPB also expanded 6.9%, with 35.67 million shares changing hands. Other lenders such as VPB, MBB, TCB, and CTG also made gains.
Besides this, brokerages SSI and HCM surged 5.6% and 3.2%, respectively while CTS, BSI both hit their upper limits.
Among speculative stocks, those in the FLC family made a rebound impressively. Of them, FLC and ROS reached their ceiling prices while HAI and AMD skirted their upper limits.
Similarly, strong cash flow helped the HNX-Index on the northern bourse set a new high. With 141 advancers and 75 decliners, the index added 6.01 points, or 1.97% versus the previous session at 310.46.
Financial stocks of the Hanoi market also staged a good performance. Lender SHB ended higher by 2.4% and became the most actively traded stock on the northern bourse with a matching volume of 44.35 million shares. Further, a host of securities stocks such as BVS, APS, HBS, PSI ended on an upbeat note.
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