242 HoSE stocks rise as VN-Index inches up

By Hung Le   February 12, 2020 | 05:31 pm GMT+7
242 HoSE stocks rise as VN-Index inches up
An investor looks at stock boards at a securities company in Ho Chi Minh City. Photo by VnExpress/Huu Khoa.

The VN-Index added 0.32 percent to 937.68 points Wednesday, with three blue chips hitting their ceiling prices.

The value of order-matched transactions on the Ho Chi Minh Stock Exchange (HoSE) rose over 15 percent from the previous session to VND3.2 trillion ($137.8 million), much higher than last month’s average liquidity of VND2.6 trillion ($111.96 million) per session.

HoSE, on which the VN-Index is based, saw 242 stocks rise and just 107 fall. The VN30-Index for Vietnam’s 30 biggest market caps added 0.8 percent, with 22 gaining tickers and 6 losers.

ROS of real estate developer FLC Faros led gains for the fourth straight session, rising 7 percent, and was one of three VN30 stocks that reached their ceiling prices Wednesday. 

The stock seems to be recovering strongly after being the biggest loser on the VN30-Index for many consecutive sessions in the past month. In fact, it fell to its floor price (6.7-7 percent) in about half of the sessions during this period.

POW of state-owned electricity producer PetroVietnam Power also surged 7 percent. PetroVietnam Power is the second biggest generator of electricity in Vietnam, behind state-owned Vietnam Electricity, and accounts for around 10 percent of the country’s electricity generation capacity.

SBT of TTC Sugar, a leading sugar producer in Vietnam, was the third, rising 6.8 percent this session. It is a subsidiary of private conglomerate TTC Group, which invests in real estate, agriculture, energy and education.

CTD of construction giant Coteccons and MWG of major electronics retailer Mobile World followed, rising 3.2 percent and 2.3 percent respectively.

Stocks of mid-sized banks, most of them private, posted stronger gains than Vietnam’s three state-owned giants. TCB of Techcombank, MBB of state-owned Military Bank, STB of Sacombank and VPB of VPBank all added at least 1.8 percent this session.

Of Vietnam’s three biggest state-owned lenders by assets, VCB of Vietcombank rose 0.2 percent, BID of BIDV kept its opening price, while CTG of VietinBank fell 2 percent.

Other major losing stocks this session included SAB of Vietnam’s biggest brewer Sabeco, down 1.5 percent. VIC of Vietnam’s biggest private conglomerate Vingroup fell 1.2 percent, while VRE of its retail arm Vincom retail shed 0.5 percent.

Meanwhile, the HNX-Index for stocks on the Hanoi Stock Exchange, Vietnam’s second main bourse for small and midcap stocks, surged 3.56 percent, while the UPCoM-Index for unlisted public companies added 0.43 percent.

Foreign investors were again net sellers to the tune of VND54 billion ($2.33 million) worth of shares on all three bourses. Selling pressure was focused most on MSN of food conglomerate Masan Group, which gained 1.2 percent, and VNM of leading dairy firm Vinamilk, which kept its opening price.

 
 
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