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Banking & Finance

August 8: VN-Index gains 1%

Released at: 17:40, 08/08/2018

August 8: VN-Index gains 1%

Source from TVSI

Three main Indexes close in positive territory.

by My Van

Money poured into banking stocks towards the end of trade on August 8, seeing the sector record the largest capitalization for the day. The surge not only helped the VN-Index reach its highest level but also provided momentum to other sectors.

The VN-Index rose 9.48 points (0.99 per cent) to 966.27 points, the HNX-Index 1.96 points (1.85 per cent) to 107.67 points, and the UPCoM-Index 0.51 points (1 per cent) to 51.29 points. Total trade was nearly VND4 trillion ($172.06 million, down from the previous session, while foreign investors continued to net sell, to the tune of VND175 billion ($7.5 million).

Banking stocks, led by BID, CTG, ACB and VCB, surpassed oil and gas as the biggest contributors to the gain in the VN-Index. The strongest gains, however, were seen in PVB and PVD. Increases spread to other sectors such as securities (VND, SSI and HCM), real estate (VHM, DXG and NVL), textiles (GIL and TCM), and retail (PNJ and MWG). VNM, VHM and BID were the major contributors to the VN-Index.

VIC was the biggest loser, while TCB, HNG and VHC also fell sharply. GTN again hit its floor, on 270,000 units sold. PVS, PVX and PVN on HNX and OIL and BSR on UPCoM increased in price and took the Indexes up with them.

Real estate stocks to rise included NVL, DXG and KDH, and VND, SSI and HCM in securities. Textile stocks such as TCM and GIL, and IDI, ASM and MPC in seafood gained ground in the morning session.

Foreigners continued to be net sellers on HSX, by 1.21 million shares worth VND166.21 billion ($7.1 million); the eighth consecutive net-selling session.

They were net sellers on HNX for a second consecutive session, by 623,000 shares worth VND7.26 billion ($311,805).

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