 VN Index up for fourth day running
Vietnam News - 2/16/2017 10:25:00 AM
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The VN Index on the HCM Stock Exchange conquered the resistance level of 710 points on February 15, driven by major large-cap stocks.
Vietnam's benchmark stock index added 0.8 percent to close at 711.57 points. It has rallied a total 1.6 percent over the last four trading days.
More than 169 million shares were exchanged on February 15 on the southern bourse, worth 3.37 trillion (150 million USD), an increase of 3 percent in trading value and a decline of 3.4 percent in trading volume.
Eight of the 10 largest stocks by market capitalisation advanced, giving the market a boost, including Vietcombank, Faros Construction Corporation and dairy producer Vinamilk.
Real estate, banking, agriculture, information and technology, and rubber production sectors led the market.
Real estate shares recorded the highest growth rate, with the industry index rising 3.3 percent, according to vietstock.vn.
Large-cap companies in the real estate sector such as Vingroup (VIC), Kinh Bac City Development Holding Corp (KBC), HCM City Infrastructure Investment (CII) and Coteccons (CTD) all made gains.
Among the nine listed banks, the Bank for Investment and Development of Vietnam (BID) and Vietinbank (CTG) were two of the shares that made the highest gains. BID increased by 2.1 percent and CTG jumped 3.5 percent.
Two leading companies in the agriculture sector – Hoang Anh Gia Lai JSC (HAG) and its arm Hoang Anh Gia Lai Agriculture International (HNG) – remained attractive to investors following positive updates on their businesses.
According to Hoang Anh Gia Lai’s latest financial report, lenders have agreed to extend the due date for 12-trillion VND bonds by three to six years, allowing the group more time to restructure the business.
In another development, Hoang Anh Gia Lai’s general director Vo Truong Son told local media that the group is proceeding to sell its sugar production unit and hydropower plants in Laos, and the deals could be done in the first quarter of 2017.
At the end of the day, HAG jumped 4.3 percent and HNG edged up 0.9 percent. HAG was also the most active stock in trading with more than 10.2 million of its shares being traded.
On the Hanoi Stock Exchange, the HNX Index inched up 0.1 percent to end at 86.32 points, recovering from a fall of 0.3 percent on February 14.
More than 40 million shares were exchanged in the northern market, worth 416.5 billion VND.
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