Stocks recover after 4-session losing streak

The VN-Index of the Hochiminh Stock Exchange closed at the intraday high of 975.14, rising 5.11 points, or 0.53%, against last Friday, largely buoyed by dairy giant VNM. However, market turnover slumped by 17.7% in volume and 15.2% in value to 138.4 million shares worth VND3.4 trillion.

Notably, block deals contributed up to 42.5 million shares worth VND1.2 trillion to the total turnover. Lender EIB saw 6.7 million shares traded via put-through with the combined value of VND114.8 billion while jewelry firm PNJ reported transactions of 2.4 million shares worth VND280.6 billion.

VNM saw rising selling pressure at the start of the afternoon phase but the stock still survived the pressure at the close. The dairy stock ended at the intraday high of VND134,000, up 2.7% versus the session earlier and playing the key role in pushing up the main index to the strong supporting level of 975 points.

Besides this, lender VCB climbed 1.4% at VND67,400 and beverage firm SAB added 1.5% at VND265,000. Meanwhile, VIC, a leading real estate and retail group, closed at the reference price of VND115,000 and its subsidiary VHM lost 0.12% at VND84,400.

Among blue chips, construction firm ROS saw strong demand after dropping steadily last week. The firm advanced 1.3% at VND30,400 and led the southern market for liquidity with over 11.2 million shares traded.

Small and speculative stocks reported bustling trade, in which steel maker HSG gained 1.7% at VND8,300 on matching volume of 6.7 million shares. HAR, a real estate company, shot up to the ceiling price for the third consecutive session, closing at VND3,960 with a volume of 930,000 shares.

On the Hanoi Stock Exchange, the HNX-Index fell for the second straight session, losing 0.33% at 105.04. Market turnover reached 21.7 million shares worth VND267 billion, down 38% and 42.3% versus last Friday, respectively.

VCS, which is active in the industrial sector, rose 1.9% at VND63,100 after the company had announced to advance a cash dividend at 20% for shareholders. The firm reported matching volume of nearly 120,000 shares.

In contrast, lender ACB fell 0.7% at VND29,100. Its fellow bank SHB moved flat at VND7,100 and took the lead for liquidity on the northern bourse with 2.3 million shares traded.

Meanwhile, lender NVB shed 4.5% to close at the intraday low of VND8,300. The bank saw matching volume of nearly 1.5 million shares.