VN-Index Holds Above 900

A strong showing by Vinh Son Hydro Power (VSH) and several other stocks pushed the VN-Index up a slight 3.59 points (0.39%) to end today’s session at 909.07.

One of the four biggest stocks by market capitalization, VSH closed the day out at VND47,600.

Smaller gains were realized by Tan Tao Industrial Zone (ITA), up VND4,000, Vinamilk (VNM), up VND1,000, and Pha Lai Thermal Power (PPC), up VND500.

Lugia Mechanical Electric (LGC) in particular was much sought after as it prepared to issue an additional two million shares.

Hoa Binh Corporation (HBC) climbed too, by VND2,000, thanks in part to the company’s winning a VND346.5-billion contract to build a hospital.

Gains were also made by pharmaceutical stocks like Imexpharm (IMP), which rose by VND2,000, and Domesco (DMC), which added VND1,000.

Small caps had a good day too with Dong Nai Paint (SDN) climbing by VND3,000, Vien Lien (UNI) by VND3,500, Tay Ninh Cable Car Tour (TCT) by VND6,000 and Safi Transportation (SIF) by a whopping VND9,000.

There were plenty of losers though. Among the big caps, FPT fell by VND4,000, Kinh Do Confectionary (KDC) shed VND3,000, Saigon Cables & Telecommunication Materials (SAM) cast off VND2,000 and REE Technology (REE) dropped by VND1,000.

The market closed with 51 gainers and 35 losers, but the slight recovery does not mean a rally is underway in any meaningful sense of the word. 

By Ba Tan, Cat Tri – Translated by Khanh Hong

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