Speculative stocks fly high amid market rally
Investors watch stock prices on electronic boards at a securities company in HCMC. The VN-Index of the Hochiminh Stock Exchange reversed course to close up 0.25% today, June 17 – PHOTO: VNA.
HCMC - The VN-Index of the Hochiminh Stock Exchange reversed course to close up 0.25% today, June 17, supported by many blue-chips and speculative stocks.
Winning stocks outweighed losers by 219 to 165, resulting in positive market breadth. The main index closed at 1,359.92, up 3.4 points from the previous session. Over 768 million shares worth VND22.5 trillion were traded, down 4% from the previous session's value. A total of 56 million shares worth VND2.3 trillion were traded in block trades.
Cash flow ran strongly into small and medium stocks, with property group FLC hitting the ceiling price. FLC also took the lead on the southern bourse by liquidity with over 50 million shares traded, followed by construction firm ROS, which reported a matching volume of 33 million shares.
Many other speculative stocks such as AAA, DLG, APG, VOS, LSS, and VDS were among the best performers.
In the VN30 basket, 14 stocks gained steam, with sugar maker SBT closing the day at the ceiling price.
Other contributors to the rally of the main index were refrigeration electrical engineering corporation REE, lender MBB, and power corporation POW, rising 5.4%, 3.1%, and 2.9%, respectively.
On the northern bourse, the HNX-Index hit its intraday high of 317.07 points at the close, up 3.42 points, or 1.09%, against the previous session, with 120 gainers and 73 decliners.
Lender SHB ended a three-day losing streak and added 0.74%, becoming the most actively traded stock on the northern market, with 30 million shares changing hands.
Other stocks such as lender NVB, investment and trading company TNG, and securities firm VND were in positive territory.
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