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Banking & Finance

May 31: VN-Index gains ground

Released at: 18:58, 31/05/2018 Stock Market Watch

May 31: VN-Index gains ground

Chart from TVSI

Index up 2.4% despite late selling.

by My Van

Cash began to flow into Vietnam’s stock market during the afternoon session on May 31, followed by profit taking towards the close. The index closed up 22 points for the day, on higher liquidity than seen recently.

With 212 gainers and 89 losers, the VN-Index rose 22.75 points (2.4 per cent) to finish at 971.25 points. Total trade was some 182.02 million shares worth VND 5.9 trillion ($258.6 million), up 24.25 per cent in volume and 30.14 per cent in value compared to yesterday.

Assistance came from many bluechips but banking was the main contributor, with BID gaining 6 per cent, CTG 5.7 per cent, VCB 4 per cent, VPB 4.2 per cent, MBB 5.6 per cent, HDB 6.3 per cent, and STB 2.2 per cent. TPB fell 2.4 per cent.

Banking also attracted cash flows, with CTG matching 5.45 million units, MBB 4.8 million, VCB, BID and STB over 3 million, and VPB and HDB 1-2 million.

Securities and insurance also did well, in particular leading stocks such as SSI, which hit its ceiling in rising 6.8 per cent to VND32,000 ($1.4) on over 8 million units matched.

HPG led in liquidity on the market, with 9.23 million units matched, and gained 6.25 per cent to close at VND56,100. HSG had a good day but lost investor interest at the end of the session, closing up 5.1 per cent to VND10,600 ($0.46). Today was the ex-dividend date for HSG, with a 100:10 share dividend.

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