Banking blue chips drive VN-Index rebound

By Hung Le   December 25, 2020 | 03:04 am PT
Banking blue chips drive VN-Index rebound
An investor looks at stock prices on a screen at a brokerage in Ho Chi Minh City. Photo by VnExpress/Quynh Tran.
After two losing sessions, the VN-Index surged 1.58 percent to 1084.42 points Friday, with gains led by both public and private banks.

The Ho Chi Minh Stock Exchange (HoSE), on which the VN-Index is based, was a sea of green with 339 stocks gaining and 120 losing. Total trading volume cooled somewhat compared to the previous few sessions, to VND12.92 trillion ($558.88 million).

The HoSE this session, unlike the previous six, did not encounter a system error that prevented order-matched transactions from being executed, something bourse leaders ascribed to the surging number of orders in the past month.

The VN30-Index for the stock market’s largest caps soared 1.76 percent, with 27 stocks gaining and two losing.

Topping gains in this group was SSI of brokerage SSI Securities Corporation, which hit its upper limit of 6.9 percent.

It was followed by four tickers of private banks. TCB of Techcombank rose 5.7 percent, HDB of HDBank 3.4 percent, VPB of VPBank 3.2 percent and STB of Sacombank 2.7 percent. EIB of Eximbank, which has in the past year been the least volatile stock in this group, added 0.5 percent.

Of Vietnam’s state owned lenders, BID of BIDV was up 2.4 percent, CTG of VietinBank 2.2 percent, VCB of Vietcombank 0.3 percent, and MBB of mid-sized Military Bank 1.3 percent.

VIC of conglomerate Vingroup, HoSE’s largest cap, this session added 0.3 percent. Its two subsidiaries, VHM of real estate giant Vinhomes and VRE of mall operator Vincom Retail, gained 1.5 percent and 1.7 percent respectively.

Other major gainers this session were VJC of budget carrier Vietjet Air, up 2.4 percent, HPG of steelmaker Hoa Phat Group, 2 percent, SBT of agricultural exporter TTC-Sugar, 2 percent, and POW of electricity generator PetroVietnam Power, with 1.7 percent.

The worst performers were ROS of construction firm FLC Faros, down 1.6 percent, and MSN of food conglomerate Masan Group, down 0.2 percent. SAB of brewer Sabeco was the only stock to retain its opening price this session.

The HNX-Index for the Hanoi Stock Exchange, home to mid-and small-caps, rose by 2.57 percent, while the UPCoM-Index for the Unlisted Companies Market this session shed 0.18 percent.

Foreign investors continued to be net sellers this session to the tune of nearly VND250 billion on all three bourses, with selling pressure primarily on HPG of steelmaker Hoa Phat Group.


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