Tuesday , February 7 2023

Many property stocks double within weeks

Several property stocks doubled within weeks as the market shows signs of recovery as investors bought the dip after major plunges.

In the last two weeks NLG of real estate developer Nam Long Investment Corp surged nearly 55% to over VND27,400 ($1.11).

Other tickers such as SCR of Sai Gon Thuong Tin Real Estate, HQC of Hoang Quan Consulting-Trading-Service Real Estate Corp, and LDG of LDG Investment also went up over 50%.

DIG of Development Investment Construction rose by 40% in the period.

NVL of real estate developer Novaland Group and PDR of Phat Dat Real Estate Development, which have been hitting the floor for weeks, are now surging up.

NVL of real estate developer Novaland Group hit ceiling price Tuesday with a 6.8% rise, while PDR of Phat Dat Real Estate Development went up 6.7%.

CEO of real estate developer CEO Group more than doubled in two weeks to VND16,600.

Construction firms such as HBC of Hoa Binh Construction Group and CTD of Coteccons Construction went up over 30% in the period.

These tickers, however, remain far away from returning to their peak established in last or earlier this year.

VN-Index hit the bottom this year on November 15 but has since climbed up 13% to 1,032 points.

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