Sabeco hits ceiling price, VN-Index rises
Sabeco hits ceiling price, VN-Index rises
The benchmark VN-Index on the HCM Stock Exchange added another 0.5 per cent during morning trade, closing at 662.2 points.
Brewery giant Sabeco (SAB), meanwhile, continued to hit the ceiling price of a seven per cent rise.
The gauge rose 1.1 per cent in the last two sessions.
For Sabeco, this is its four consecutive session of touching the daily limit rise, valued at VND161,500 (US$7.11) per share. SAB price has gained 46.8 per cent since its debut on Tuesday.
The largest listed stock, Vinamilk (VNM), increased 0.6 per cent despite being sold by foreign investors.
Some shares among the top 30 largest stocks by market capitalisation and liquidity also edged up marginally, such as Vietcombank (VCB), Masan Group (MSN), Bao Viet Holdings (BVH) and Saigon Securities Inc (SSI).
Real estate and construction firms were, however, on the defensive side.
Large property and infrastructure developers, such as FLC Group (FLC), Kinh Bac City Development (KBC), Tan Tao Investment Industry (ITA), HCM City Infrastructure Investment (CII) and Hoang Quan Consulting-Trading-Service Real Estate (HQC), all slumped.
HQC reached the floor-price session for the eighth time, slipping another seven per cent to settle at just VND2,670 ($0.12) per share. The share value has lost over 50 per cent this year.
In a filing to the HCM Stock Exchange, the company attributed the steep decline to temporary difficulty in the implementation of social housing projects, caused by the suspension of the government’s support for social housing projects.
On the Hà Nội Stock Exchange, the HNX-Index inched up 0.3 per cent to 79.6 points.
A total of 85 million shares worth VND1.7 trillion (nearly $75 million) were traded on the two markets.
The afternoon session starts at 1pm.
