VN-Index sees biggest gaining session in a month

Vietnam’s stock market seemed to have a resurgence after losing nearly a total of 5 percent in its last 10 sessions, in which each of the three gaining sessions in this period rose no more than 0.2 percent.

On the Ho Chi Minh Stock Exchange, on which the VN-Index is based, 2019 stocks rose and 112 stocks fell, with liquidity at VND3.33 trillion ($142.6 million).

Blue chips and banking stocks led gains this session. The VN30-Index, which represents Vietnam’s 30 biggest market cap stocks, rose 1.71 percent, with 23 stocks closing in the green and only three in the red.

MWG stocks of electronics retail giant Mobile World rose the most this session, up 3.8 percent, followed by VCB of state-owned lender Vietcombank, up 2.7 percent, and VNM of dairy giant Vinamilk, up 2.4 percent.

GAS of state energy firm PetroVietnam Gas rose 2.1 percent, HDB of mid-sized lender HDBank, 1.75 percent, and SAB of Vietnam’s biggest brewer Sabeco, 1.75 percent.

Banking stocks such as VPB of VPBank, TCB of Techcombank, MBB of Military Bank, and state-owned giants CTG of VietinBank and BID of BDIV all rose this session. Only EIB, of mid-sized Eximbank, fell 0.1 percent.

The other two losing stocks were MSN of food conglomerate Masan Group, which shed 1.7 percent, and ROS of real estate developer FLC Faros, down 0.3 percent.

Foreign investors net sold VND173.3 billion ($7.48 million) worth of shares this session, with selling pressure mostly on MSN shares of Masan Group.

Meawhile, the HNX-Index for stocks on the Hanoi Stock Exchange, Vietnam’s second main bourse for small and mid-cap stocks, rose 1.39 percent, while the UPCoM-Index for the Unlisted Public Companies closed 0.38 percent higher.

Leave a Reply

Your email address will not be published. Required fields are marked *